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Croatia has won European Union approval to increase the amount of aid required to restructure the troubled Brodosplit shipyard after agreeing further cuts in the yard's annual production ceiling reports Reuters.
Croatia has spent 28 billion kuna ($4.9 billion) over the past two decades propping up four indebted shipyards, including Brodosplit. The country's shipbuilding industry deteriorated after Croatia became independent in 1991.
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