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Jul 26, 2023 18:11 EEST
July 26 (SeeNews) - Montenegro has completed a feasibility study for the construction of a cement plant in the northern city of Pljevlja, the government said.
The study is part of the 700 million euro ($774 million) infrastructure development plan drawn in accordance with the Memorandum of Understanding (MoU) signed in April between the Montenegrin government, state-owned power utility EPCG, and British private equity firm Chayton Capital, the government said in a press release.
According to the study, the project will have substantial positive effects on the country’s economy. Depending on the final scope of investment in the entire Green Pljevlja project, the proposed investment is expected to contribute between 1.4% and 4.3% to Montenegro's annual GDP over a ten-year period, and create jobs for 200 to 600 people.
The project is connected to the modernisation of the energy generation segment of the Plevlja coal-fired thermal power plant, as the cement factory will utilise by-products from the operation of the power plant.
Chayton Capital is a full-service globally operating investment advisory firm specialising in innovative, high-return alternative investments and asset management solutions. It has been active in the SEE region since 2006.
($ = 0.9038 euro)
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