Oleg Deripaska gave up financing project for construction of holiday hostel "Porto Montenegro" in Tivat

(Oleg Deripaska)

Russian oligarch Oleg Deripaska has discontinued funding of the project for construction of holiday hostel "Porto Montenegro" in Montenegro.

Agency "Interfax" announced that the partners of the Russian entrepreneur would have to finish construction of the tourism complex at nearly 2m square meters by themselves.

Total value of the project was initially estimated at 8.3 billion USD.

Project "Porto Montenegro" anticipated creation of large infrastructure, including 2 luxurious hotels with 150 and 300 rooms, suites, office space, casino, 65 villas, marina...