27.03.2009. Tender documents for Ada Bojana lease adopted
Podgorica, (MINA-BUSINESS) – The Government of Montenegro adopted today tender documents for the a long-term lease of the Ada Bojana island for a 90-year period, foreseeing a minimum investment of €200 million.
Minister of Tourism and Environmental Protection Predrag Nenezic said the bidding would be open until 1 September, which would be followed by a procedure of selection of prospective investor by the Government.
According to him, development of mainly hotel facilities with the capacity of no more than 2,500 beds is planned for Ada Bojana.
“There will be no housing units, apart from a possible small number of residential buildings,” Nenezic said after the cabinet meeting.
He said that the Government had defined very strict criteria for the selection of investors.
“Prospective bidders must have a turnover of no less than €400 million over the last several years, and at least one billion worth of previously realised investments,” Nenezic said.