The Government of Montenegro, acting through the Ministry of Transport and Maritime Affairs, is compiling a tender procedure to identify an experienced private partner for the long-term concession of Montenegro Airports. On August 6, it launched a public consultation process, as required by Montenegrin law, to receive the public’s comments about the project proposal. After public comments have been gathered (within a 30-day deadline) and addressed, and the project proposal has received all necessary approvals from the competent authorities, the Ministry of Transport intends to conduct a two-stage tender procedure to find a preferred partner.
The scope of the concession includes the upgrade, operation and maintenance of the two existing international airports of Podgorica (TGD), the capital city, and Tivat (TIV), a popular tourist destination on the Adriatic coast, as well as feasibility studies and concept development for two greenfield airports in Berane and Ulcinj. Combined, Tivat and Podgorica airports served about 2 million passengers in 2017 and have experienced strong growth over the past ten years (an average of 6% and 7% respectively).
The government has said that one of its strategic priorities is to find private sector financing to fund approximately EUR100M of airport upgrades and expansions.
The International Finance Corporation (IFC) is acting as the lead transaction adviser to the Ministry of Transport. IFC is assisted by ALG, Gide Loyrette Nouel and Karanovic Nikolic for specialist technical and legal advice.
The qualification stage is expected to be formally launched in the second half of September.