The Montenegrin Coast Regional Water Supply ended the last business year with a profit of 1,2 million euros. The board of directors of this state-owned company adopted today the annual report on its work for the year 2023.
"The report pointed out that at the beginning of 2023, through the adoption of appropriate decisions and conclusions, as well as through intensive negotiations and cooperation with the Government of Montenegro, the relevant ministry and the non-governmental sector, the Board of Directors directly participated in activities to stop the exploitation of gravel and sand and dumping of waste in the bed of the Morača river, in the II zone of sanitary protection.
Through cooperation with relevant institutions and government bodies, the Board of Directors actively participated in the development and implementation of environmental protection strategies and policies in the Morača River bed, all with the aim of preserving natural resources.
The engagement represents an example of responsible corporate management and commitment to important social issues that directly affect the social community and the environment", they state from the Regional Waterworks.
The board of directors, as it is pointed out, conducted an analysis of strategic importance for the company in the field of current operations and contributed to the successful resolution of all obstacles, which brought operations to a high level.
"The commitment of the Board of Directors to business analysis, finding effective solutions and making key decisions resulted in the financial stability of the Company. The realized profit of 1.200.000 euros testifies to the efficiency and success of the work of the Board of Directors, as well as its ability to achieve business goals and ensure the prosperity of the Company. During 2023, the Board of Directors achieved efficient internal operations and successfully implemented the coordination of the Company's development projects. He focused his activities on finding the best solutions that led to the improvement of the functioning and the achievement of sustainable development of the Company. Thanks to the decisions and measures implemented by the Board of Directors, significant progress was made in improving the water supply of the Montenegrin coast, it contributed to reducing the risk of water shortages and ensuring the long-term sustainability of the water supply system. Engagement and commitment have contributed to the creation of effective solutions and the achievement of positive results. The board of directors took steps and made decisions that enabled the successful construction of a temporary dam in the bed of the Morača river, which resulted in an increase in the yield of the "Bolje Sestre" source, according to the company.
The decision to hire consultants for research and development of conceptual solutions for a filter plant for purifying lake water with a capacity of 500 liters per second, as they add, was aimed at implementing a plant that will provide an additional amount of water.
"This effort in the research of conceptual solutions for a filter plant shows the commitment of the Board of Directors to the stabilization and improvement of the regional water supply system in order to ensure an adequate water supply of the Montenegrin coast. Activities aimed at improving the Company's liquidity through the initiation of amendments to the Law on Regional Water Supply have been initiated. In particular, it was proposed to introduce a special fee for investments made on the Montenegrin coast, which would be charged to hotels with categories 4* and 5*. Also, it was proposed to extend the period of collection of that fee until 2034, i.e. until the Company's obligations regarding loan repayment are fully realized. These activities are important for the financial stability of the Company and enable adequate planning of future investments and operations", the Regional waterworks. Activities have been intensified, as it is emphasized, on the implementation of the second phase of the system through the completion of the construction of a new pipeline from the break chamber "Prijevor" to Lastva Grbaljska.
"The board of directors is an active participant in the coordination of activities on the construction of the new pipeline on the stretch Lastva Grbaljska - Tivat, which is part of the construction of the new boulevard from Jaz to Tivat. This project will increase the capacity of the regional water system to distribute additional water for the municipalities of Kotor, Tivat and Herceg Novi from the current 330 liters per second to 750 liters per second.
The board of directors made decisions for the implementation of projects aimed at scientific research with the aim of determining the cause of the decline in the yield of the "Bolje Sestre" spring and finding solutions that will contribute to stopping that decline, i.e. improving the yield of the "Bolje Sestre" spring.
The activities of the Board of Directors are followed by numerous media that contribute to the affirmation of the work and decisions of this body with objective information. This type of media coverage enables the public to be adequately informed about the successes and challenges that the Society faces in its work", the announcement reads.
The work of the Board of Directors during 2023, as it is pointed out, was characterized by a high level of professionalism and thoroughness, as well as compliance with legal regulations and provisions regarding corporate management and protection of employee interests.
"This indicates the commitment of the Board of Directors to ethics and transparency in business, which is key to maintaining the integrity and reputation of the Company.
The Board of Directors achieved outstanding results and the goals it set. Such outcomes are the result of dedicated work, strategic leadership and effective management implemented by the Board of Directors. He played a key role in leading the Company towards achieving success and achieving its goals, and it is obvious that his vision and persistence led to extraordinary results", concluded the Regional Waterworks.
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