Montenegro has started talks with State Oil Company of Azerbaijan Republic (SOCAR) to award it an agreement for a long-term lease of former military assets at the Adriatic town of Kumbor, which will be developed into a tourism location, the tourism ministry said in an emailed statement. SOCAR was ranked first in the tender for the Kumbor location, pledging to make a minimum investment of EUR 57.6mn in the first three years of the project development, the statement said. SOCAR plan to build a high-scale tourism complex at the attractive location of the former barracks, which covers 304,500 square metres. The lease-period is 90 years. Kumbor lies on the scenic bay of Kotor. |
Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more
Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more
Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more