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Final Decision on the Fate of Dina on Friday

The Supervisory Board of Dina Petrokemija concluded last night that it should continue to protect the interests of the company, its workers, and creditors.

However, it ordered consultations with creditors so that the Supervisory Board could make a final decision on the fate of the company, said Predrag Mihaljević, president of the Workers’ Union of Dina and representative of the workers on the Supervisory Board. 

He also stated that at the meeting, which ended late tonight, it was agreed that the president of the Supervisory Board, Leo Dolezil, would talk to the company’s creditors, after which a decision will be made next Friday on whether a solution will be sought through bankruptcy, a new investor, or another option.

At the Supervisory Board meeting, there were also representatives of the management of Dina and the Turkish investor Caliskan, who, according to Mihaljević, confirmed that production at Dina will not be initiated for now.

They indicated that they would consider the union’s questions regarding salaries, that the circumstances for investment are uncertain, and that they are unsure how the initiated pre-bankruptcy settlement process at Dina and the sale of land for the LNG terminal in Omišalj will end, said Predrag Mihaljević, president of the Workers’ Union of Dina and representative of the workers on the Supervisory Board.

The union believes that safety at Dina is compromised because, alongside tons of hazardous chemicals, people who have not received salaries for seven months are working there. Therefore, after the next Supervisory Board meeting, they will request the convening of the county headquarters for protection and rescue, Mihaljević said.

The Workers’ Union of Dina Petrokemija reported a few days ago that all prerequisites for starting production have been met – the account has been unblocked and the supply of electricity has been secured under favorable conditions, but they were told by the management that the investor currently has no intention of starting production.

The management responded to the union that ‘for now the investor has no intention of starting production because they hesitate to invest under the existing conditions’ and that ‘they are looking for a new partner.’ Therefore, the union proposed to the government to verify this information and, if it finds that Caliskan is indeed withdrawing from the contracted deal, to find a new investor.

They also proposed that unpaid salaries be paid from the advance of HEP of 6 million euros for the purchase of land for the construction of the LNG terminal, which is partially owned by Dina. Dina Petrokemija, a member of the Dioki Group, submitted a proposal for the opening of the pre-bankruptcy settlement process on November 30, and this process began at the beginning of the year.