Ukrainian billionaire Vadim Novinsky is interested in buying Croatia's struggling Uljanik yard group.
The Russian-born owner of metals and yard company Smart Holding met Croatian economy minister Darko Horvat on Thursday.
Horvat said more would be known about a potential bid after Novinsky had visited the Uljanik and 3 Maj plants in Pula and Rijeka.
"The first meeting and the first contact has been made. The colleagues from Ukraine are in Rijeka today and in Pula tomorrow. We'll have a summary after they visit both shipyards and then we'll be able to give a few more details," he told reporters.
Uljanik Group has been hit by worker strikes and vessel cancellations amid a cash shortage. A plan has been mooted to sell off 3 Maj and find a new investor for Uljanik.
It has been reported that September wages have not been paid.
Novinsky wants to develop shipbuilding at both plants.
According to Forbes, his net worth in March 2013 was $1.9bn.
Smart Holding is the fourth potential investor to have met the Croatian government. Others have been from Italy, reports said.
Croatia faces paying $309.22m in state guarantees this year due to troubles at Uljanik, according to finance minister Zdravko Maric.
