For how much Money was the Building of Hidrogradnja sold?

13052556_1158665707517717_1960093918_oThe building of Hidrogradnja in the Hamdija Kreševljaković Street, which used to be the headquarters of the company, was sold earlier this year to the Union Bank for 11 million BAM, although the carrying value of the building was 18.2 million BAM.

The Council of Ministers of BiH wanted to purchase the building for the estimated value of 18.2 million BAM for the purpose of accommodating national agencies. However, the problem appeared when it was found out that the Union Bank pledged the right to mortgage through a public call which was published on December 17, 2015. Prior to the publishing of the public call, the Agency for Privatization of FBiH gave consent to Hidrogradnja for independent sale of the building based on the decision by the Supervisory Board of Hidrogradnja of December 2015.

Of the eleven million BAM, which was the purchase value of the building, the Union Bank took the biggest part of the money for the repayment of a previously taken loan – 4.5 million BAM in total.

BBI Bank charged 1.2 million BAM, while 1.7 million BAM were supposed to go to Vakufska Bank. Thus, more than a half of funds, 7.1 million BAM to be precise, was allocated only for repayment of debts to the banks.

Twenty eight former directors, secretaries, accountants and attorney charged two million BAM in total. On average, each one of the 28 members of management got around 72.000 BAM.

Only 200.000 BAM was allocated for the launching of production, while the rest of the workers, 600 of them, received 4.000 Bam each.

The Union Bank confirmed that they purchased the building, as well as that they will use it for their own needs, noting that a decision about that has not been reached yet.

The headquarters of Hidrogradnja will move to the branch “Sigma” in Butmir, and the process of moving, according to the available information, has not begun yet.


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