Iskra Shipyard’s Concession Extended Until 2054

The Deputy Prime Minister and Minister of the Sea, Transport and Infrastructure Oleg Butković today signed a Concession Agreement for the maritime property for the economic use of the special purpose port – Shipyard Šibenik with the President of the Management Board of Iskra Shipyard Šibenik Roko Vuletić. This agreement is valid until October 25, 2054, and opens up the possibility for a new wave of significant investments for the shipyard. The contract was signed at the shipyard in the presence of Dušan Šešok, the owner of the Slovenian Iskra, which also owns Iskra Shipyard Šibenik.

– This is a continuation of our investment plan that we presented to the Ministry of the Sea, Transport and Infrastructure two and a half years ago, and I must say that they reacted positively right away. However, the process was not simple. It required in-depth analysis, both financial and economic, as well as permits and approvals from various bodies, which took time. In any case, we have now created some formal prerequisites to start the realization of this large investment plan worth 30 million euros, and none of this would have been possible if Mr. Dušan Šešok had not recognized the plans and programs of the valuable experts in this shipyard six years ago and taken it over. Since then, a lot has been invested in this shipyard, and we are operating successfully, said Roko Vuletić, director of Iskra Shipyard Šibenik.

Dušan Šešok confirmed that before meeting Roko Vuletić, who presented him with the programs of today’s Iskra Shipyard Šibenik, he had no connection to shipbuilding, and it was crucial that he had a boat in the marina in Mandalini and that Vuletić managed to convince him of the shipyard’s potential.

– Shipyards were in a difficult state at that time, and everyone, especially in Slovenia, was shocked when I said I would buy a shipyard in Šibenik. However, we have never regretted making that decision after family discussions. I agreed to invest in a Croatian company also because Croatian economic policy is much better than Slovenia’s, and the government here understands and supports us. If it weren’t for entering the shipyard in Šibenik, we wouldn’t have taken over Elka, which was the most successful company in Zagreb County last year, nor the Split ELMAP, and don’t be surprised if we buy more companies in Croatia by the end of the year, Šešok emphasized.

Expansion of Operational Quay Planned

In accordance with the decision of the Government of the Republic of Croatia in 2019, the concession for the maritime property of the special purpose port – Shipyard Šibenik was transferred to Iskra Shipyard 1 d.o.o., and based on the presented investment plan, a decision was made in July 2025 to extend it until 2054, as Minister Butković reminded during the signing of the contract.

– This shipyard is a good example of how shipyards can operate successfully in Croatia. I must recall the difficult situation this shipyard was in before Iskra took it over six years ago. However, Mr. Šešok was not afraid of the challenges; he paid the concession debt of 300,000 euros, took over all the workers, and today they operate successfully. This extension of the concession on maritime property will guarantee new significant investments, he emphasized, recalling the successful projects that this shipyard has completed for the Ministry of the Sea, Transport and Infrastructure, which have been completed or are ongoing. They delivered six fast boats for emergency medical interventions at sea, built in collaboration with the Ministry of Health. They also built and delivered two boats for the needs of the port authorities on the coast, two of which will be completed by the end of the year, and the remaining three will be delivered in 2026, two years ahead of schedule. A working boat for Plovput, a company of strategic importance for Croatia, has also been built and delivered, and this shipyard is also refurbishing the training ship “Kraljica mora” which will be used by that ministry.

The new investment plan for Iskra Shipyard Šibenik envisions the arrangement and expansion of the operational quay by 11,000 square meters, which will be intended for the repair of yachts that are lifted on a synchro lift. They also plan to build two new halls that will primarily be used for new construction but also for ship repairs as needed. The largest investment will be the construction of a new floating dock, 110 meters long, with a capacity of 4,000 tons. This will allow Iskra Shipyard to cover a segment it has not previously addressed – the repair of almost all Jadrolinija ships and new corvettes of the Croatian Navy. The new floating dock will also enable the repair of yachts up to 100 meters in length. There is also the purchase of a new travel lift, procurement of plasma for cutting and processing aluminum, procurement of a mobile crane, and some activities from the plan, such as the construction of a solar power plant and the remediation and construction of wastewater systems, have already been undertaken in the meantime. All planned interventions will be on the existing concession area, which covers a total of 159,880 square meters. The land area of the port is 91,575, and the water area is 68,304 square meters.