August 2011
KfW Bank Plans to Implement a €12.5 million Project in Montenegro Representatives from KfW bank and the Montenegrin Minister of Finance, Dr Milorad Katnić, met to discuss their previous cooperation which dates back to 2001. So far, their cooperation was only in the fields of infrastructure financing (energy and supply) and in funding local banks. However, future cooperation between KfW and Montenegro might well take place in the project “Water Supply and Wastewater Treatment on the Coast”, as well as with the energy sector. KfW is very interested in financing the “Energy Efficiency in Public Buildings” project, in which €12.5 million will be invested. The project will include the energy – efficient rehabilitation of about 30 school buildings in Montenegro. The start of this project is expected to take place on the fall 2011.
Turkish Investors Interested in the Airport at Berane A project for the reconstruction of the rundown Berane airport, which is located in North of Montenegro, seems to be of great interest to Turkish investors. Rafet Husović, minister in the Government of Montenegro, said that Turkish investors want to reconstruct the rundown airport at Berane. Official information about the investors has not yet been published, but according to some sources in the government, the Turkish company, Limak Holding, might be preparing to enter the Montenegrin market along with Turkish Airlines, which is rumored to be taking over Montenegro Airlines. The goal of this project is to make Berane airport functional for civilian flights by commercial airlines.
Brazilian Investors Interested in the Port of Bar The Port of Bar is receiving a lot of international attention from various investors all around the world. The newly appointed ambassador for Brazil in Montenegro, Alesandro Ador Neto, has expressed a positive interest in the Port of Bar as a potentially important traffic intersection that could connect Brazilian companies with Montenegro. Ambassador Ador Neto has visited the Port of Bar and stated that it could play a very important role in strengthening relations between the two countries. Being one of the biggest economies in the world, as well as one of the fast growing economies, a good relationship with Brazil would represent a positive trend in the continually rising Montenegrin economy.
Subsidies Loan for Agriculture The Montenegrin Minister of Agriculture and Rural Development, Tarzan Milosevic, has stated that the ministry should put into motion an initiative that would ensure the subsidy of interest on bank loans to companies. Support for purchasing certain agricultural products, as well as projects that are supported through MIDAS would be the subject of such subsidies.
Tenders Invitation to Tender for Long – Term Lease of Tourism Complex “Valdanos” Ulcinj The Government of Montenegro, the Privatization Council and the Capital Investment Council have opened a tender for bids to local and international investors for the long – term lease of the tourist resort “Valdanos” in Ulcinj. Bids will be received from investors that have proven financial standing and a track record in design, construction and the management of complex tourist facilities. The length of the lease is 30 years, with the possibility of a lease extension. Some of the conditions set out for bidders include the following: they have to already be an international hotel operator; they have to be a well known brand; they have to have five years of continuous experience in the design, development and management of 4+ or higher level hotels. The Valdanos cove is situated 4 km southwest of Ulcinj, and represents one of the most beautiful natural resorts in Montenegro. Its area is approximately 346 ha and it is covered by numerous olive trees. The bids are to be delivered by September 19, 2011.
Invitation to Tender for 63.5273% Share of the Capital and for a Long Term Lease of 90 Years, for a Land Currently Owned by the Hotel and Tourism Company HTP “Ulcinjska Rivijera” AD A public invitation to participate in the above tender was announced by the Government of Montenegro for the privatization of the company “Ulcinjska Rivijera” AD, along with the offer of a long – term lease of the land complex of the same company. The privatization will involve selling the government’s share of “Ulcinjska Rivijera” AD which is worth 63.5273% of the total capital of the company, and is represented by 968,402 ordinary shares. The second part of the tender refers to the long – term lease of the land owned by the state of Montenegro. For further information, interested investors can find more details in the tender documents. The core business of “Ulcinjska Rivijera” AD comprises: hotels, motels and restaurants, and interested investors should have a background in this sector. The deadline for submission of the bids is September 19, 2011.
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