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Cabinet approves draft concession act, concession agreement for Airports of Montenegro

Cabinet approves draft concession act, concession agreement for Airports of Montenegro
Published date 25.07.2019 15:22 | Author PR Service

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Podgorica, Montenegro (25 July 2019) -- At today's session, the Montenegrin Cabinet approved the Draft Concession Act and the Concession Agreement for the Airports of Montenegro.

Minister of Transport and Marine Affairs Osman Nurković told a press conference following the Cabinet session that the Ministry, in line with the Law on Concessions, has drafted a concession act for granting concessions for the use of Tivat and Podgorica airports to the best bidder (Concessionaire) who will establish and register a legal entity, based in Montenegro, for performing concession activities.

Minister Nurković emphasised that the intention is to provide the necessary valorisation of the Airports in a long-term sustainable way through the granting of the concession, which will be in the interest of the State and its further economic development.

In order to make an assessment, structure a concession and invite a tender using the best international practices, the Ministry has engaged the International Finance Corporation (IFC).

The subject of the concession is the construction, reconstruction, modernisation, maintenance and use of the Airports.

For full press release in Montenegrin please click here.