Proposal for ACG concession decision: Podgorica and Tivat airports go to South Korean company IAC for 30 years

The concession for the Podgorica and Tivat airports is being granted to the first-ranked bidder, Incheon Airport Consortium (IAC), for a period of 30 years, while the rights and obligations between the Parliament of Montenegro as the grantor and IAC as the concessionaire will be determined by the Agreement.

This is defined in the proposal for a decision on granting concessions for Montenegrin airports, which is part of the documentation being considered at today's Government session, "Vijesti" learned from sources familiar with this procedure.

The grantor in this matter should be the Parliament of Montenegro.

"The contract with the concessionaire will be concluded on behalf of the state by the Prime Minister Milojko Spajić within 15 days from the date of this decision. The draft decision defines that the Parliament authorizes the Prime Minister to sign any act arising from the contract or related to the said contract, which is necessary for the start of the application of the contract and for the commencement of the concession activity. Also, the concessionaire will authorize the Ministry of Transport to designate the competent authority to supervise, monitor and control the execution of the contracted obligations. The decision should enter into force on the day of its publication in the Official Gazette," the source of "Vijesti" states.

After the Government approves this draft decision today, it will send it to the Parliament for a final decision, because the new assessment of the permanent assets of the most important state resource is 265 million euros, and according to the law on state assets, the Parliament decides on all assets above 150 million.

"The government will submit the proposal for granting the concession with all accompanying documentation to the parliament for consideration and decision-making. Filip Radulović, who heads the Ministry of Transport, and State Secretary Pavle Triplović will participate as government representatives in the work of the Parliament on this issue. The Ministry of Spatial Planning will also be tasked with intensifying all activities to resolve property and legal relations in the concession area on the territory of the Municipality of Tivat," the source told Vijesti.

The tender commission for granting Montenegrin airports under concession completed its work last year and sent the documentation to the Ministry of Transport, which, in accordance with Article 31, paragraph 1 of the Law on Concessions, published the ranking list of bidders.

According to the ranking, the South Korean company "Incheon International Airport Corporation" (IIAC) ranked first with 96,18 points, while the Luxembourg-American company "Corporación América Airports" (CAAP) ranked second with 65,15. The tender was announced in 2019.