Croatian marina operator ACI Marinas has unveiled plans to invest some HRK 188.2m (US$30.7m) this year on modernising and expanding its chain of marinas on Croatia's Adriatic Sea.

One of the biggest projects is the reconstruction of the facility in Rovinj, in which ACI Marinas aims to invest around HRK 160m (US$26m). Construction is expected to begin in July.

The announcement accompanies the release of the company’s improved financial results for the first quarter of this year. From January to March 2018, ACI Marinas reported revenues of around HRK 33.7m (US$5.5m) – a 4% increase compared with the same time last year, according to data obtained by local daily Slobodna Dalmacija.

ACI Marinas operates 22 marinas in Croatia. The firm’s shareholders include the Croatian Treasury, which holds a 77% stake, and Turkey’s Dogus Group with an 11% stake. ACI Marinas is listed on the Zagreb Stock Exchange (ZSE).

Earlier this year, ACI Marinas secured permission to build a new marina in Novalja, in western Croatia, from the country’s Ministry of Maritime Affairs, Transport and Infrastructure.