The project will be financed by funds from the capital budget, prime minister Milojko Spajic said in a statement on Friday, during a meeting with Cetinje mayor Nikola Djuraskovic.
Budget funds for the project could be made available already in June, the statement read.
It is realistic to expect that the Cetinje-Lovcen gondola project will be completed by May 2026 when Montenegro will celebrate the 20th anniversary of its independence, it added.
In January, the local government of the southern municipality of Cetinje gave its consent for the Cetinje-Lovcen gondola project that will span a total length of 10,780 metres and will represent an extension of the existing Lovcen-Kotor gondola lift that is already operating on the western slopes of Mount Lovcen. The extension would involve the construction of an intermediate station at Ivanovo Korito in on the eastern slopes of Lovcen and the final station in the former royal capital of Cetinje.
Thus, the cable car will connect two historically very important cities in the country - Cetinje and Kotor, located on the Adriatic coast.
In December 2021, Montenegro hired a consortium comprising local company Novi Volvox and Italy's Leitner to build and operate the 20 million euro ($22 million) Lovcen-Kotor gondola lift.
($ = 0.921 euro)