PODGORICA (Montenegro), July 3 (SeeNews) – Montenegro's tourism ministry said on Thursday that a deal with Podgorica-based LPGD for the lease on a land plot in the Adriatic city of Tivat, which was earmarked for the development of a golf course project, was cancelled.
The deal was canceled as the investor, LPGD, did not meet its commitments under the contract, the tourism ministry said.
The Montenegrin government acted as a guarantor of the deal between the lessor, state-owned agricultural company Montepranzo-Bokaprodukt, and LPGD.
The deal was signed in October 2012.
($=0.7322 euro)