The deadline for fulfilling the obligations of the Turkish investor has been extended

The planned investments, as announced by the Government Public Relations Service, can only be realized with respect for high modern environmental standards and the application of new technologies
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Government of Montenegro, Photo: Government of Montenegro
Government of Montenegro, Photo: Government of Montenegro
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.
Ažurirano: 12.04.2018. 17:30h

At today's session, the government adopted the Annex to the purchase and sale agreement of the company Container Terminal and General Cargo (Port of Adria), which extends the investment obligations of the investor, Turkish Global Ports, until January 31, 2020, or a longer period in case of "force majeure". In the annex, it was stated that, in accordance with the purchase agreement signed in 2013, Global Ports fulfilled the social program, while the investment program was fulfilled by 81,6 percent. The remaining part of the investment program relates to the rehabilitation and strengthening of the construction of the southern bank of Ghat 1. As stated, the three-year period for the execution of the social and investment program expired on January 17, 2017, and that during that period the buyer was not able to complete the remaining part of the investment program "exclusively due to administrative barriers that are not a direct or indirect consequence of the customer's actions or omissions".

The last paragraph of clause 5 of the CAPEX plan was also changed so that now Global Ports Holding is ready to invest up to 13,6 million euros in order to improve Capex. The purchase agreement envisages the sale of 62,09 percent of the state capital in KTGT for a total of about 8,07 million euros. According to the terms of the contract, the buyer was also obliged to realize investments in the restructuring of the company within the framework of the CAPEX program, in the total amount of 13,5 million euros, within three years. The Government has adopted a decision on the development of Amendments to the Detailed Urban Plan of the KAP Industrial Zone for the area UP8, UP1 and UP3, with the aim, as announced, of building new production capacities and attracting foreign direct investments. "During the drafting and adoption of the valid DUP Industrial Zone of KAP from 2008, different regulations were in force regarding the built-up index of industrial zones, which proved to be unsustainable for the industrial zone and did not allow for new investments and the construction of new facilities. The main goal of the amendments to the plan is to increase the value of industrial production in terms of the higher stages of processing. It was emphasized that the planned investments can only be realized with respect for high modern environmental standards and the application of new technologies, in accordance with domestic legislation and European directives in the field of space protection", the Government announced. As they added, the amendments to the DUP Industrial Zone of the KAP for the area UP1 and UP3 will create the conditions for the creation of new plants and facilities in the undeveloped area that would work smoothly, with investments in new devices to improve the environment controlled through legally prescribed norms.

Amendments and additions to the DUP Industrial Zone of KAP for the area UP1 and UP3 will create the conditions for the creation of new plants and facilities that would work smoothly on the undeveloped area, with investment in new devices

"Plants within the aluminum plant complex were built using older technology, so there was a need for revitalization of some existing plants and modernization (addition of new plants) with the aim of eliminating or reducing negative impacts on the environment," said the Government. KAP is owned by Uniprom from Nikšić, businessman Veselin Pejović. "Vijesti" recently announced that the purchase of KAP will cost Uniprom 21 million euros, instead of 28 million, because the new annex to the sales contract stipulates that Uniprom will return 233 thousand square meters of land to the bankruptcy estate, and the bankruptcy administration will return to him a promissory note of 6,98 million euros.

It is only one in a series of annexes to the sales contract from 2014, which was concluded with Pejović by KAP bankruptcy administrator Veselin Perišić. The government also adopted the report on inspection supervision in the field of public procurement for the period July - December 2017. In the reporting period, the Public Procurement Inspectorate performed 90 inspections of 95 subjects - subject to the Law on Public Procurement (five subjects were inspected twice), in which 39 irregularities were found in 66 subjects. Of the total number of inspections, 11 were carried out based on initiatives, in which five irregularities were found. Observed by cases, the largest number of determined irregularities in relation to the number of controlled cases refers to the failure to draw up an act on the implementation of emergency procurements (41,2%), keeping and keeping records and documentation on public procurements (25,5%), fulfillment of the conditions for carrying out duties of public procurement officers and commissions for opening and evaluating bids (17,2%), failure to draw up an act on the implementation of low-value procurements (16,7%), adoption, amendments, additions and publication of the public procurement plan (12,7%), "In order to eliminate the identified irregularities, the Public Procurement Inspectorate imposed 52 citation measures and adopted five decisions. Out of a total of 66 identified irregularities, 58 were eliminated. Not all irregularities were eliminated due to the fact that certain actions cannot be returned to their previous state, so the inspectors cannot take measures to eliminate them, but in cases where it was possible, punitive measures were taken." , the report stated.

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