Roman Abramovic is checking out Valdanos coast in Montenegro coastline – announced investments of 1,2 billion EUR

(Roman Abramovic)

Russian billionaire, Roman Abramovic, is interested to lease for a longer period of time, Valdanos coast in Montenegro coastline, and he is prepared to invest more than 1,2 billion EUR, as claims Podgorica Magazine “CG economist”.

This magazine wrote that Abramovic was soon to come to Montenegro, or he would send one of the chairmen of his companies who would have credibility to speak to Montenegro Government about this project.

Interest for leasing Vladanos, Large beach near Ulcinj, and near Montenegro airports, was earlier announced by Austrian company “Soravia”, whose director, Hano Soravia, stated that this company would like to invest in the southern part of Montenegro coast.

Montenegro council for privatization invited on March, 28th all interested international investors to show their interest by May, 15th for long term lease of the ex military resort “Flower island” near Tivat and of “Valdanos” coastline.

The Government is expecting from the lessee to build on these two locations unique and multifunctional tourist complexes of high class, which would offer a variety of activities for recreation and relaxation, but in the way not to jeopardize their natural environment and ecological treasure.

In description of Valdanos it says that it is located near the biggest restored olive yard on the Mediterranean, with more than 400.000 sqm, with 18.000 seeded olives, but which will not be opened for lease.

The Government is expecting from lessee Valdanos to build a hotel complex with objects for recreation of 4+ and 5 star class, managed by international tourist operator already proved in his job. The lessee will be paying annual fee based on the frequency of guests, but there will be determined minimum guaranteed fee. He would be obligated to submit investment plan for the location, which would be able to finalize in the period of 3 years, from the moment of signing lease contract.

It was announced from the Government that public international tender for tourist valorization of the two locations would be published in the second half of May. While estimating the offers, the main criteria will be the amount of planned investment.