January 7, 2018 - In the realization of the construction project for the nautical-tourist center Porto Montenegro in Tivat, since its inception in the summer of 2007 until the end of September 2018, Adriatic Marinas invested a total of 551 million euros, the Montenegrin Government claims.
In the information on the realization of capital projects in Montenegrin tourism from July-December last year, which was adopted at its final session in 2018, the Government claims that the planned investment in the realization of the entire Porto Montenegro project was still very far off being achieved in the full anticipated amount, and amounts to 450 million euros. The Government estimates the investment of over 100 million euros more than that sum. Nevertheless, considering the structure of the total investment so far realized, Porto Montenegro's former owners (Canadian businessman Peter Mank and his partners), or current owners (the ICD corporation from Dubai), invested in a total of 345 million euros of capital investment. The rest of their investments account for as much as 206 million euros in operating costs (salaries, taxes and contributions, electricity and water bill) that Porto Montenegro had in these 11 years of business. It means that the administration of Prime Minister Duško Marković (DPS) is a strange account, in which foreign investments include the fees, taxes, and overheads paid by a Montenegrin company - Adriatic Marinas from Tivat, which is developing the project of Porto Montenegro.
According to the latest government information, Adriatic Marinas invested EUR 14.46 million in Porto Montenegro from July to the end of December, which is less of the planned investments of EUR 15.69 million in the period.
Adriatic Marinas and its sister companies employ 497 people in the Porto Montenegro project, while 63 others work for the company Securitas, operating security for the entire complex. According to government data, around 400 employees work at the supermarket and catering facilities in Porto Montenegro during the summer season, which reduces to 220 workers during the winter. The government claims that the average number of yacht crew members in the Tivat marina during the high season is 1,200, while from October to May it is reduced to only 200. At the construction site of two new buildings of that complex, at the end of November, Strabag and its subcontractors employed 216 construction workers.
Source: Sinisa Lukovic, Boka News
