We are looking for a loan of $55 Million to purchase the concession for a marina at the Croatian Adriatic coast and to develop the marina. The loan payback period is 8 years.
In year 2003 Marina Kremik was completely renovated. New floating jetties were installed to offer more places in the sea. The restaurant, the reception, the sanitary blocks and the service were renovated.
In the same year all ecology standards and norms were fulfilled, and from 2003 till today Marina Kremik has a Blue Flag thanks to the care for the environment and meeting strict criteria required by the FEE organization (Foundation for Environmental Education).
The techno-economic life of the project is scheduled for 25 years, which is reflected in the framework of the concession of the Marina.
Šibenik lies almost in the center of the Croatian Adriatic coast, in picturesque and indented bay on the Krka River, one of the most beautiful Croatian karst rivers. Today Sibenik is - politically, economically and socially - the cultural center of Sibenik, Knin County, which stretches along the coast between Zadar and Splitcoast, a distance of 100 km, and its inland reaches Dinara is 45 kilometers.
The Šibenik bay, 10 kilometers long and 300-1200 meters wide, coming to the open sea and islands through a narrow winding channel. The coastal area of Šibenik stretches only a few kilometers from the sea, the mountain range Trtar and the southeast to the Mt. This area of the county experienced a strong urbanization after World War II. Here are situated almost all production capacities, so almost all economic activity and strength are concentrated in the area.
The city of Sibenik is exceptionally significant traffic position that enables direct communication. The backbone of the Adriatic coastal road has extensions to Drniš (33km) and Knin (55km) and is an important road and railway line to Zagreb and Split. Air traffic goes through the airport "Split" (45km) and Zemunik airport (50 km away). The newly built highway "Dalmatians" is even better connected with other parts of Sibenik Croatian and Europe.
The marina has 393 moorings in the sea and 150 on dry land, each one of which is supplied with water and 220/380 volt electricity plugins. The marina is well lit and secured. Of its facilities we might mention the reception, restaurant, market, nautic shop, technical service with a complex workshop and a petrol pump as well as a taxi service, if you need it.
Customers for the capacity charter and rent-a-car service and bindings of restaurant service, service vessels, maritime academies and other things will be secured through several sales channels, including the following:
- Direct sales (direct booking);
- Sales through travel agencies;
- Sales through specialized agency for last-minute tourists;
- Sales through tour operators in tourist generating countries,
- Sales on tourism fairs and exchanges in the country and abroad,
- Sales over the Internet.
The project consists of 3 phases of construction, for which the finance will be used:
The 1st phase of construction provides for the purchase of Marina Kremik.
The 2nd phase of construction refers to the anticipated capacity expansion of the Marine and includes 100 sea berths, 100 dry berths, decoration and furnishing of the restaurant, wellness center, and swimming pool, setting a hot spot, purchasing laundry equipment, and launching a nautical academy.
The 3rd phase envisages construction of 66 second hand (up to 1 year old) supply vessels (14-15 m long) with the support of banks and leasing companies.
We are looking for a loan of 55 Mill Euro as per the project appraisal. The financial assessment of investment has used several different methods for greater accuracy and justifies the required loan amount.
The payback period of the investment is eighth years of the economic progress of the project.
The net (clean) present value of the project at a 1.3% discount factor is positive and amounts €63,172,269.90.The relative pure present value, which shows the growth of net present value relative to the invested assets is more than satisfactory and is 1.148586725454545.
Internal rate of return is 7.17% and the same is much higher than the discount factor, which is 1.3%.