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Montenegro, British company Chayton Capital is interested in improving induatrial infrastructure of Pljevlja

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The British company Chayton Capital will conduct a feasibility study on the possibilities for development, structuring, financing and implementation of an investment plan regarding industrial infrastructure in Pljevlja. If the results of the study are positive, according to estimates, this could result in a total direct investment of around EUR 700 million and the creation of more than 600 direct new jobs.

The memorandum of understanding was signed by Prime Minister Dritan Abazović, EPCG Executive Director Nikola Rovčanin and Chayton Capital representative David Allen.

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As Abazović said, signing the memorandum made it possible to enter the next phase of this project, which is the preparation of a feasibility study. If she shows that the project is sustainable, we will immediately go to the opening of other procedures related to the granting of the concession and the beginning of a huge economic activity in the north of Montenegro – he said.

As previously announced by the Government, the project includes the consideration of possibilities for the modernization of the energy production segments of the Pljevlja Thermal Power Plant, the construction of a cement factory in the area provided for in the spatial plan of the Municipality of Pljevlja, the construction of a gypsum board and gypsum-based building materials factory in the narrower area of ​​the Pljevlja thermal power plant, as well as the construction of a factory of innovative prefabricated building elements intended for modular construction (CBPB – Cement bonded particle boards) which would use cement, waste wood and by-products from the operation of the thermal power plant.

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Also, the project includes the construction of a plant for recycling, waste treatment and biomass, within which fuel would be created to fuel the new eco-boiler of the Pljevlja Thermal Power Plant from waste wood and other available resources on the site, the development of ecological agricultural production focused on the use of waste CO2, thermal of energy and by-products generated during the operation of the Pljevlja Thermal Power Plant and the opening of the Faculty of Mining and Geology as well as the vocational high school in Pljevlja.

The goal of this initiative reflects the interest of the signatories to maximize the overall positive economic and social benefits as well as the use of resources, which, according to estimates, could result in a total direct investment of around EUR 700 million and the creation of over 600 direct new jobs – they stated.

The Prime Minister said that the realization of this investment would be of great importance not only for Pljevlja, but also for the whole of Montenegro. We are talking about several compatible businesses that are related to energy, but also have other components related to industrial production. For the first time, we have this approach, where several components are combined into one huge industrial activity on the territory of the municipality of Pljevlja, but with the satisfaction of all those standards that concern ecology, but also with the satisfaction of those legal provisions that are valid in the framework of the European Union – said Abazović.

As he stated, the company Chayton Capital has the obligation to make all the studies and if they show that this business is sustainable, the next step will follow, which is the conclusion of a second contract that will entail the performance of works related to the development of all these compatible businesses.

We believe that investments should come to the north of the country, and Pljevlja has a special emphasis and will remain in the focus of the Government of Montenegro. I would like to emphasize that this project goes beyond our borders and everything that will eventually be produced there – be it electricity, cement, or plasterboard – will be export-oriented. In this way, I think we will bring life back to Pljevlja – emphasized the Prime Minister.

He also pointed out that, if all these investments come to fruition, they will have to launch an initiative regarding the education of citizens who will be employed in the entire process. This is very important because this social component must also be included when it comes to such a gigantic project – concluded Abazović, repeating that Montenegro is open to all investors who want to develop a fair business.


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