The recent budget revision in Montenegro opens funding opportunities not only for the highway section from Mateševo to Andrijevica but also for the remaining segments of the Bar-Boljare highway, as well as for the construction of the Lokanda hotel in Cetinje, according to the Action for Social Justice (ASP).
The government adopted the budget revision this week and submitted it to parliament for approval. The revision was necessary due to recent government restructuring and the merging of ministries.
Previously, the capital budget allocated funds specifically for the Mateševo-Andrijevica section of the Bar-Boljare highway, the Adriatic-Ionian highway, and other fast roads, managed by the Transport Administration and implemented by Monteput.
With the revision, financing now extends to the construction of the remaining highway sections, with a provision allowing costs for the Mateševo-Andrijevica segment to be partly funded by revenues generated from Montenegro’s economic citizenship program (sale of Montenegrin passports to foreigners).
Additionally, the revision allocates €800,000 from the capital budget of the Ministry of Public Works to co-finance the public-private partnership project for building the Lokanda hotel on Cetinje. The project includes an underground garage and the landscaping of the Artist’s Square.
The public-private partnership agreement was signed between the Cetinje Municipality and Talija Company from Herceg Novi. This is the first partnership contract under the new PPP law. The project timeline is 30 months: up to six months for design documentation and up to 24 months for construction. Following project approval, the operational phase will last 30 years.
The Lokanda hotel will have 48 beds, a parking garage with 130 spaces, and the total investment is estimated at around €14 million.
