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Press release from session of Council for Privatisation and Capital Projects

Press release from session of Council for Privatisation and Capital Projects
Published date 24.04.2017 18:00 | Author PR Service

Ispis Print

Podgorica, Montenegro (24 April 2017) – Montenegro's Council for Privatisation and Capital Projects held earlier today its third session, chaired by the Council’s Chairman and Prime Minister Duško Marković.

The Council tasked the Tender Commission to declare the public tender for privatisation of the Montenegrin Luka Bar, through the acquisition of a 30% state-owned stake in the company, unsuccessful. Although the offer for purchasing 30% of stake in the Luka Bar has been submitted by a credible investor from the EU, namely OT Logistics from Poland, the main goal of the privatisation would not have been achieved, as the offer does not correspond with national interests of Montenegro in economic, social and security terms, the Council concluded.

The meeting stressed that the overall privatisation process was transparent and in accordance with the current regulations, noting that the Polish company offered a high-quality social programme for employees in Luka Bar company.

However, the Council agreed that the reconstruction of the Bar – Podgorica – Vrbnica railway and further through Serbia, as well as the construction of the motorway, will enable better conditions for more comprehensive valorisation of the Luka Bar, as one of the key strategic resources of Montenegro.

Polish OT Logistics has offered EUR 8,520,000 for 30% of the Luka Bar, a binding investment programme for the period of three years amounting to EUR 14,000,000 and a social programme, suggesting the increase of the minimum wage for employees from the current 90 to 140 EUR. The bidder also obliged not to consider the surplus of employees and to respect existing collective agreements for a period of three years

The Council also tasked the Tender Commission to declare unsuccessful the acquisition of 51% of stake in Montecargo AD company. Polish company OT Logistics was also the sole bidder in the tender for privatisation of the company. 

Council for Privatisation and Capital Projects considered the report on the results of the international public tender for long-term lease of military-tourism complex "Mediteran" in Žabljak, along with the Decision to declare the tender unsuccessful. 

The Council approved the audit report of Podgorca-based Omega company regarding the revision of the execution of the Contract on purchase of a part of the location of "Gornji Ibar" Rožaje factory, location 1A, and the Contract on the lease of a part of the location of the "Gornji Ibar" Rožaje factory, location 1B. 

It was agreed that the investor, Sancakli Mobiliya from Turkey, has invested EUR 262,014,420, thus fulfilling their contractual obligations, but that the company has not fulfilled the requirement under the employment programme, given the fact that the company employed only 28 persons instead of 49.