Montenegro, tie-up of Italy's Leitner, local co Novi Volvox agree on Kotor gondola lift project

The total investment in the project is estimated at 20 million euro ($22.7 million), the government said in a statement on Monday. The financial offer of the consortium implies a compensation of 15% of the net value of the profit generated from the operation of the facility, which also involves a restaurant, a parking lot and a souvenir shop, for a period of 30 years.

The gondola lift will be operated for at least seven months a year, generating annual revenues in the range between 3.9 million euro and 9 million euro, the government said.

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

($ = 0.8799 euro)