Agreement signed to rehabilitate Mamula - Orascom invests EUR 15 million in restoration of fortress and Lastavica Island near Herceg Novi

(Photo: hercegnovi.me)

According to the agreement, the company has rented Mamula for a period of 49 years and taken on the obligation to build a five-star hotel and other facilities on the island.

Mr. Saviris said that the fortress would be turned into a unique tourist museum, adding that its cultural and historical value would not be jeopardized.

After signing the agreement in Podgorica, Minister Gvozdenovic said that the investment in Mamula would allow for the employment of about 200 people, stressing that the state would obtain a significant source of revenue.

All the work on the fortress should be completed in two years.