Development of Porto Montenegro - Amendments and supplements to state study on Arsenal location in Tivat adopted

Amendments and supplements to a state study on the Arsenal site in Tivat, which were adopted Friday by the Montenegrin government, allow for the further development of Tivat-based marina Porto Montenegro and the expansion of existing facilities for the development of yachting tourism, Minister of Sustainable Development and Tourism Branimir Gvozdenovic announced.

- Total value of the investment, including this project, stands at about EUR 462 million - said Gvozdenovic.

As he noted, this project should bring about EUR 100 million in revenues to the state.