Government of Montenegro and Bechtel and Enka sign Memorandum of Understanding

With support from the United States toward infrastructure development and strengthening Montenegro’s economic position

Montenegro and the United States continue to strengthen their economic cooperation, and the Memorandum of Understanding with Bechtel and Enka will contribute to infrastructure development by deepening ties established under the Memorandum of Understanding on strategic economic cooperation signed with the U.S. on 21 October 2024.

The MoU was signed by Prime Minister of Montenegro Milojko Spajić, Bechtel’s President for Regions and Corporate Relations Justin Siberell, and Member of Executive Committee of Enka Ozger Inal, in the presence of U.S. Ambassador to Montenegro Judy Rising Reinke.

We have long dreamed of developing infrastructure in Montenegro – talking about how wonderful it would be to have highways connecting the coast and the north, reaching all the natural beauties our country has to offer. That decades-old dream is no longer just a dream, but is becoming a reality. Our strategic American partners are ready to support us on that path, sending their top engineering and construction companies to be part of Montenegro’s successful development – a joint success of Montenegro and the United States. This is a logical step following the Memorandum we signed with the U.S. in October last year, which will not remain just words on paper, but will serve as a foundation for decades of economic cooperation between our two countries, said Prime Minister Spajić following the signing.

The Memorandum is the result of ongoing collaboration under the U.S.-Montenegro Economic Dialogue. U.S. Ambassador Judy Rising Reinke emphasized that the memorandum represents a shared vision of economic growth, regional connectivity, and development.

The MoU highlights Montenegro’s commitment to improving infrastructure that will open new opportunities for its citizens, American companies, and the wider Western Balkans. It is also further proof that the cooperation between our two countries – formalized last year in Washington during our bilateral economic dialogue – continues to yield tangible results. The United States is proud to support Montenegro in taking on an important integrative role in the region, Ambassador Reinke stated.

Bechtel’s President for Regions and Corporate Relations Justin Siberell expressed strong enthusiasm about the potential for cooperation on Montenegro’s strategic infrastructure corridor, which is expected to include transportation, energy, and technology projects.

Bechtel and ENKA have a strong track record of success in building high-quality infrastructure corridors across the Balkans, which have received numerous awards in recognition of our outstanding capabilities in environmental protection, project management, and financing, said Siberell.

This MoU represents another major step in accelerating Montenegro’s economic growth through the implementation of key infrastructure projects in line with national regulations and the highest international standards. The overarching objective is to further position Montenegro as a regional hub and strengthen its economic resilience through deeper cooperation with the United States.

The collaboration outlined in the MoU will include a broad scope of activities – such as identifying development pathways and exploring the feasibility of implementing critical infrastructure and energy projects.

Additionally, the MoU paves the way for future cooperation on project prioritization, master planning, financial structuring, and technical support, all geared toward ensuring successful project implementation.

The central aim of the Memorandum is to foster sustained economic growth in Montenegro, reaffirming the commitment of both countries to expanding bilateral relations and creating a strong foundation for long-term development.