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LKPG - Luka Koper Dd News Story

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Small Cap
Market Cap £247.5m
Enterprise Value £260.7m
Revenue £181.7m
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Slovenian court orders a new referendum on railway

Wed 14th March, 2018 3:54pm
LJUBLJANA, March 14 (Reuters) - The Slovenian Supreme Court
on Wednesday annulled the result of a September referendum that
approved the government's biggest investment project and ordered
a new referendum on the project.
    In September, 53.5 percent of voters backed the construction
of the 27-kilometre (17-mile) railway line between the city of
Divaca and the state-owned Adriatic seaport Luka Koper
 LKPG.LJ , a project worth 1 billion euros ($1.24
    But Vili Kovacic, head of the civil society group Taxpayers
Don't Give Up, complained to the court, saying the government
had an advantage in the referendum because it used 95,000 euros
of budget funds to support its campaign.
    "The government's campaign was inadmissibly one-sided," the
court said and ordered the State Election Commission to set a
new referendum date. The Commission is expected to set the date
in the coming days. 
    The referendum was initiated by Kovacic's group, which
argued that the line was too expensive and asked voters to
reject the project. 
    The centre-left government has so far received 44.3 million
euros of European Union funding for track preparation, and
neighbouring Hungary has said it was willing to invest about 200
million euros in the project, since it relies on the port of
Koper for much of its seaborne freight*:nL5N1HE38Y.
    The court's decision adds to the troubles of the government 
of Prime Minister Miro Cerar three months before a parliamentary
election, which is expected on June 10. 
    Also on Wednesday, teachers demanding higher wages held
their second one-day strike this year, closing most schools and
kindergartens. Other public-sector unions also threaten strikes
unless the government agrees to hefty wage hikes*:nL8N1QW4CH.

($1 = 0.8093 euros)

 (Reporting By Marja Novak, editing by Larry King)
 ((; +386-1-5058805, Reuters
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