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Area: 730 km2
County capital: Čakovec (15,185 inhabitants)
GDP (2013): 962 million EUR
GDP per capita (2013): 8,481 EUR
Unemployment rate (2015): 12.6%
Most important sectors (2015): manufacturing industry (54.5%), wholesale and retail (21.8%), construction (8.8%), transport and storage (2.9%), agriculture (1.9%)
FDI (1993-2013): 60.2 million EUR
More information about the county:
COUNTY CHAMBER ČAKOVEC
Ivana Gorana Kovačića 2
tel. +385 (0)40 311 160
fax +385 (0)40 311 161
Silverije Petriš (email@example.com)
|Project||Hortus Croatiae - The Garden of Croatia|
|Location||Draškovec, City of Prelog
The property is situated in the Međimurje region, in Northwest of Croatia, in the Municipality Prelog and the Draškovec settlement, in close vicinity of the highway Zagreb-Varaždin-Budapest. The capital city of Croatia Zagreb (and its main airport) is only a 60 minute drive away. The location is in the car drive vicinity from the markets of Austria, Hungary, Italy, Slovenia, Czech Republic, Southern Germany, as well as the City of Zagreb and all northern Croatia and nearest eastern European countries, which form the most important European Spa markets.
|Description||The project involves construction of a holistic Wellness & Health Resort & Green Energy production in several interrelated or independent phases that can be combined according to the interest of investor(s). Besides the developing indoor and outdoor thermal water park, spa premises, specialized hotels etc., a hybrid geothermal energy power plant of new generation based on own sustainable geothermal sources with combined production of electricity (18.6 MWe gross) and heat (75 MWth gross) will be built in Q4 2017. Also, the project involves construction of specialized golden age lifestyle villas and apartments surrounded by golf course; drinking and mineral water bottling plant from own well and greenhouses production of fruit and vegetables.
The project is divided into 3 main phases and sub-phases:
1a - Construction of a Hybrid Geothermal Power Plant
1b - Indoor and Outdoor Health and Water Park with horticultural gardens
1c - Tropical Gardens; Greenhouse agriculture and fish breeding.
2a - Spa & MICE boutique 80 rooms 4* Hotel with Medical Policlinic
2b - 240 units in Villas & Apartments village and 9-holes golf course (one option is development of serviced apartments for active seniors).
Drinking and Mineral water bottling plant “Aqua Hortus”.
There are two companies involved in the project: Aqua Aera Terra (AAT) Ltd. and the company AAT Geothermae Ltd. (AATG).
AAT Ltd. is the owner of 500,000 m2 of urbanised land and the health tourism, spa, tropical garden, water bottling and real estate & golf project, while the other AATG Ltd. is the proprietor of 75,000 m2 of urbanised land, geothermal well and the ongoing sustainable hybrid geothermal energy plant project. The companies have different owners but coordinate the development activities.
|Estimated project value||€170.500.000,00|
|Estimated value descriptive||• Phase 1a (Year 2015-2017) = 22.5 mil EUR (enhancement of the energy power plant in further phases: additional 52.5 mil EUR in 2018-2019);
• Phase 1b (2018-2019) = 24.5 mil EUR;
• Phase 1c (2019-2020) = 14 mil EUR;
• Phase 2a (2019-2020) = 12 mil EUR;
• Phase 2b (2021-2022) = 37.5 mil EUR;
• Phase 3 (2019-2020) = 7.5 mil EUR.
|Financing descriptive||The project of the power plant AAT Geothermae was applied to EU Comission’s tender NER300 for rewards for innovative solutions in renewable energy and CCS. The project received a grant in the financial value of 14.7 mil EUR. AAT Geothermae will apply for additional funding for the development of its innovative technology in the EU program InnovFin and for the development of the Spa and Health tourism project "Hortus Croatiae”, the company AAT will apply for funding at ERDF or Interreg fund for Croatia. The documentation for both planned applications is ready.
All the technical and financial feasibility studies for 1st phase development are prepared. The investment project of Energy Plant AAT Geothermae (Phase 1a) is ongoing, it has secured financing; renowned international investors joined it in 2017. For all phases the complete investment programs and business plans have been made, as well as the debt/loan financing conditions for their realization have been partially preliminary agreed with the local/international commercial and development
Project involvement possibility
|Looking for investor|
|Other info||The Developer is looking for a potential financial/strategic investor and partner to enter the project by acquisition of certain amount of the shares of the AAT company or/and AATG company; adding capital or offer a preferred equity facility or mezzanine financing facility (or other combination of capital and financing transaction if demanded by the policy of Investor/Financer). Investors can enter into each company separately or into both companies simultaneously.
The project is realised in phases and combination of equity and debt financing sources that the developers have conditions agreed upon partially with regional and international commercial and development banks.
Preparation of project documents
|Documentation status||Full project documentation|
For details please contact firstname.lastname@example.org
|Project holder||Aqua Aera Terra (AAT) Ltd.|
|Contact||Aqua Aera Terra (AAT) Ltd.
Address: Draškovec, HR-40325 Draškovec, Zelena 1
Developer (coordinator in the name of the owner): Hosting d.o.o.
Phone: +386 2 787 7455 (reception)
Fax: +386 2 787 6120
Cell: +386 41 514 020
Contact person: Mr. Peter Vesenjak, director AAT Ltd.
|Estimated start of project implementation||Year 2013/2014.
The first adaptation and testing works on the existing geothermal well Draskovec-1 were finished in January/ February 2014, as well as the testing phase of the energy production plant in September 2014.
The construction of the new geothermal drills has started in February 2016. The connection to the grid is planned to be finished until the end of 2017 and first production of electricity will start in Q1 2018.
|Estimated duration of project in months||The project is being developed and implemented by individual stages as shown in the schedule of investments.
Some phases are planned to be realized parallel (what will depend on the decision of the co-investor and modality of the final closure of the financial structure).
|Type of project||Private|
|For details please contact email@example.com|