PODGORICA (Montenegro), November 15 (SeeNews) – The Montenegrin government said on Friday it has signed a deal to sell 62.09% of cargo terminal operator Kontejnerski Terminal i Generalni Tereti [MNG:KOGE] to Turkish company Global Ports Holding for 8.08 million euro ($10.9 million).
The investor has committed to invest an additional 13.5 million euro in the next three years to restructure the company based in the seaside town of Bar, the government said in a statement on its website.
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Following the three-year restructuring period, the Turkish company is also obliged to provide a further 7.6 million euro in investments and 6.5 million euro to implement a social responsibility programme for the next five years.
According to data from the Global Ports Holding website, the port of Bar currently has maximum container capacity of 1.0 million twenty-foot equivalent units per year and 6.0 million tonnes in general cargo capacity.
($=0.7427 euro)