INVESTMENT PROJECTS AND OPPORTUNITIES IN MONTENEGRO

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1 INVESTMENT PROJECTS AND OPPORTUNITIES IN MONTENEGRO February 2017

2 PRIORITY SECTORS FOR INVESTMENT Transport Energy Tourism

3 TRANSPORT PROJECTS ONGOING PROJECTS Construction of Highway Bar Boljare The highway Bar Boljare will connect Montenegro with Europe, beginning from the Adriatic coast, via the Capital City Podgorica, to the border with Serbia The Project includes construction of 5 sections, total lenght of 180 km: Djurmani (Bar)-Farmaci; Bypass around Podgorica (Smokovac Tolosi Farmaci); Smokovac-Uvac-Matesevo; Matesevo Andrijevica-Berane, and last section Berane-Boljare The section Smokovac-Uvac-Matesevo (41km) is currently under construction; contracted costs of this section 809,6 mill ` Railway Line Belgrade (Vrbnica) Bar, Reconstruction and modernization of Railway line Modernization and reconstruction of the railway line in compliance with European and main international railway lines and achievement of interoperability of the railway lines along the Corridor X Total lenght is 454,8 km of which 167,1km in Montenegro and 287,4km in Serbia The value of the project is estimated in the amount of cca 250 mill WBIF funds for this project cca 40 mill (for Main design and reconstruction of 86 tunnels)

4 TRANSPORT PROJECTS POTENTIAL INVESTMENT Expressway along Montenegrin coast WBIF grant for this project 3,5 million (1 million for Feasibility study for Montenegro) Length of the traffic artery: 108 km Calculated speed 80 km/h Min radius r min=250 m Max level inclination 7% Traffic lines 4 X 3.25 m Approx. costs 10,5 million Eur/km Financing model: ppp/concessions/hybrid model

5 TRANSPORT PROJECTS POTENTIAL INVESTMENT Development of Airport Tivat The project includes the construction of a new terminal building, expansion and reconstruction of manoeuvring areas and platform Negotiation process with EBRD about credit arrangement in progress Preliminary design finished (EBRD grant ) Grant for supervision on works provided Estimated investment value - 42 mill

6 ENERGY PROJECTS ONGOING PROJECTS Submarine cable Construction of submarine cable with energy of MW capacity between Italy and Montenegro Project realized by CGES (Montenegro) and TERNA (Italy) Laying finished in February 2017 Whole project will be finished until the end of 2017 Investment worth more than 800 mill (415 km long, 390 km undersea and 25 km of underground cable) Project will position Montenegro as regional energy hub, giving the investment opportunity for all region WBIF funds for this project 25 mill II Block Thermal Power Plant Pjevlja Construction of the II Block TPP Pljevlja, installed power capacity of 250MW Contract with Skoda Praha (Czech Republic) was signed on 29 September 2016; total investment costs 324,5 mill

7 ENERGY PROJECTS RENEWABLE ENERGY 7

8 ENERGY PROJECTS POTENTIAL INVESTMENT Hydro Power Plants on Moraca River Basic Technical Design envisaging construction of 4 hydropower plants with total installed power of 238 MW and an average annual generated electric power of 721 GWh Hydro Power Plant on Komarnica River Possibilities for investment in two power generators of 168 MW, with annual production of 232 GWh Total investment is around 182,8 million in 6 years `

9 TOURISM ONGOING PROJECTS PORTO MONTENEGRO Investor: Investment Corporation of Dubai Investment value up to now: cca 450 mill Mixed used resort which includes luxury 5*hotel, superyacht marina, restaurants, bars, cafes, galleries, nautical museum, green market, private health institutions, sports facilities, luxury apartments Original investor: Adriatic Marinas Ltd. and PM Securities (Barbados) INC PORTONOVI/ONE & ONLY Investor: SOCAR, Azerbaijan Estimated investment value: cca 600 mill Construction of luxury hotel with SPA and wellness center, luxury complex with 500 units and villas of the highest class, a world class marina with a capacity of 250 berths, large number of shops, cafes and restaurants

10 TOURISM ONGOING PROJECTS LUŠTICA BAY Investor: Orascom Development, Egypt and Switzerland Estimated investment value: cca 1.1 billion Mixed use resort, includes construction of 8 hotels, golf course with 18 holes, 1,250 residential units (villas and apartments), 2 marinas and city center I phase is underconstruction hotel, marina, buildings and roads

11 TOURISM POTENTIAL INVESTMENTS MAMULA Contract with Orascom Development company (Switzerland) signed Planned: hotel 5*****, 4 hospitality objects, spa center etc. Estimated investment value: 15 mill BULJARICA May 2016 published public invitation for long term lease of the 5 million sqm land and aquatorium Company CDCI bid assessed positively Negotiation process - in progress

12 TOURISM POTENTIAL INVESTMENTS VRANJINA SITE WITH LESENDRO Skadar Lake Tender documentation may be purchased until 24 February 2017 Area: 13,132 m² for feature an ecolodge tourist resort 30 objects servicing visitors to the resort with a maximum capacity of 61 beds NJIVICE HERCEG NOVI Land of 30,597 m² and aquatorium of 17,313 m² Planned for marina, business or congress hotel, apartment facilities, 5000 m² beach Project type: public private partnership long term lease

13 TOURISM POTENTIAL INVESTMENTS SKI RESORT KOLAŠIN KOLAŠIN Investment value: cca mill Long term use Tender documentation may be purchased until 24 February 2017 Located in the south part of the Bjelasica, surface amounts to 27,19 ha MEDITERAN - ŽABLJAK Public-private partnership Tender documentation may be purchased until 2 December 2016 Construction of a new tourist resort at location of former military complex in Žabljak in the area of m² Located in 1456 m above the sea level, in the most attractive area of national park Durmitor

14 INVESTMENT LOCATIONS Web page is created in December 2016 Includes all information about investment climate in Montenegro, investment locations in 23 municipalities in Montenegro, gallery with videos about locations, legislativeframework and useful links Investor or visitor on the web page can easily be informed about all the necesary information and comunicate with contact persons in municipalities 14

15 NATIONAL INVESTMENT COMMISSION NATIONAL INVESTMENT COMMISSION In accordance with Berlin process EU and Western Balkans Countries in 2015 focused on the need for infrastructure and economy development in the Balkan Region WBIF joint fund of European Commission International Financial Institutions and bilateral donors for allocation of financial suport for infrastructural project WBIF co-finance infrastructural investments projects and allocated 1 billion for the region in period of In general, funds can be allocated for projects from 4 sectors: energy, transport, environment and social (education, health and justice) Precondition for implementation of projects under the WBIF framework was establishing of National Investment Commission NIC which was established on 19 February 2015 Technical apparatus of National Investment Commission - Secretariat for Development Projects 15

16 NATIONAL SINGLE INVESTMENT PROJECT PIPELINE COMMISSION NIC is national body that is in charge for implementation of infrastructure projects and for creation of Single Project Pipeline (SPP) Single Project Pipeline (SPP) - adopted by NIC on 2 December 2015, currently covers 64 projects: 10 projects in energy sector, 9 projects in transport, 30 in environment and 15 in social sector In 2017, SPP is going to be updated. It will include additional sector other infrastructure, which will cover all infrastructure priority projects, that were not covered by primary four sectors (energy, transport, environment and social). 16

17 Thank you for your attention Secretariat for Development Projects Bulevar revolucije 7, Podgorica tel/fax: