Arabs take over Novi duvanski kombinat in Podgorica

Representatives of the Montenegrin government, city authorities of Podgorica and the Arab company BMJ Industries FZ-LLC signed Monday an agreement on the management of Novi duvanski kombinat (NDKP), the Tender Committee has confirmed to the news agency Mina-biznis.

The signing of this agreement means the official liquidation of Duvanski kombinat Podgorica (DKP) in bankruptcy, that is, the deletion of DKP from the Central Register of Business Entities as well as its shares from the Central Depository Agency.

This Arab company was the only bidder in the sixth privatization tender, that is, recapitalization of NDKP, and it offered to invest EUR 20 million.

Arabs plan to invest EUR 18 million in fixed assets and EUR 2 million in working capital. They also planned to buy a new land with a facility to organize production in it. According to the bid, BMJ Industries owns a tobacco factory with a capacity of 200,000 boxes a month, it has 20 brands and 40 different types of cigarettes.

The Government holds a 69.91% stake in NDKP, while the city owns 30.08% of shares in that tobacco company.

Novi duvanski kombinat Podgorica

Ministarstvo poljoprivrede, šumarstva i vodoprivrede Crne Gore

Glavni grad Podgorica

Vlada Crne Gore

Novi duvanski kombinat

NDKP

BMJ Industries FZ LLC

Duvanski kombinat Podgorica in bankruptcy

Montenegrin government

City of Podgorica

Ministry of Agriculture of Montenegro