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

Author Radomir Ralev
Montenegro signs deal for Kotor gondola lift construction with Leitner - Novi Volvox tie-up. Source: Montenegrin Government

PODGORICA (Montenegro), December 16 (SeeNews) - Montenegro's government said it has signed an agreement for the construction of a gondola lift connecting the coastal town of Kotor to the Lovcen national park with a consortium comprising local company Novi Volvox and Italy's Leitner.

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)

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