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Luka Kotor approves port concession contract

Kotor, Montenegro (PortSEurope) March 14, 2019 – Montenegrin port operator Luka Kotor AD’s shareholders have given the green light to a 12-year concession contract with the Montenegrin government.

The agreement was approved unanimously at the shareholders meeting of the company and includes the payment of an annual concession fee of €250,000 ($283,300). 

Moreover, Luka Kotor will invest €5.053 million ($5.7 million) in the harbour over the 12-year period, and plans to attract cruise ship and yachting activities.

Source: Luka Kotor

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