Montenegro Extends Tender Deadline for Long-term Lease of Ada Bojana, Velika Plaza Adriatic Resorts to Feb 15, 2010

The government’s assets-selling agency gave no further details in the two separate statements it issued late last week.

This is the second deadline extension in the two tenders after the agency in May pushed back the initial September 1 deadline to December 1.

Ada Bojana is an island off the southernmost Montenegrin Adriatic coast. It is fully owned by the state. Velika Plaza is a holiday village and a hotel complex located on the Adriatic, close to the town of Ulcinj.

In February 2008, Montenegro invited investors to express interest in developing an upscale resort on Ada Bojana. A month later it invited investors to bid for the Velika Plaza development project.