Montenegro signs deal for Kotor gondola lift construction with Leitner - Novi Volvox tie-up.

The total value of the project is 20 million euro ($22.6 million), the government said in a press release on Wednesday.

The offer of the consortium includes the payment to the Montenegrin state of an annual fee equal to 15% of the future net profit generated from the operation of the gondola lift and the accompanying restaurant, parking lot and souvenir shop.

"The Kotor-Lovcen gondola lift will enable tourists to get to know Lovcen and Cetinje, which is our historical, cultural and spiritual center, in a unique experience. I believe that the people of Cetinje are very optimistic about today's news," economic development minister Jakov Milatovic said in the press release.

The consortium of Leitner and Novi Volvox won a tender for the construction of the gondola lift launched by the Montenegrin government in 2020.

($ = 0.88305 euro)