Tivat - Montenegro's Busiest Airport - eyes forty million euro investment

The construction of Montenegro's Tivat Airport’s new multi million euro terminal is expected to begin in late 2015 if all necessary funds are secured on time. Montenegro’s busiest airport has stepped up talks with the European Bank for Reconstruction and Development (EBRD) for a twenty million euro loan. 

The entire project, which comes at a price tag of forty million euros, includes the construction of a new terminal building, jet-ways, apron and a parking lot. Within the next three weeks, tender procedures for the selection of a project consultant will begin, although this development has been somewhat delayed as the current planning phase was expected to be completed back in March. Operator Airports of Montenegro, which manages the country’s two international airports, says a loan should be secured during the second half of the year.

Tivat Airport has been facing capacity issues over the past few years. In 2014 it handled a record 910.533 passengers, the bulk of which came in July and August. It is now the former Yugoslavia’s eighth busiest airport, ahead of Sarajevo and Podgorica. So far this year, it has seen its passenger growth average 1%. In a statement, the Montenegrin government said, “Passenger growth at Tivat Airport has exceeded even the most optimistic of forecasts and has pointed towards the necessity to implement this investment as soon as possible. It is important to note that several meetings have taken place with the EBRD and that a principle agreement has been reached for the bank to approve this loan”. The government adds that it is in the process of purchasing nearby land at TIvat Airport from the Montepranzo Bokaprodukt company in order to fulfill its investment plans.

The CEO of Airports of Montenegro, Milovan Djuričković, says the new terminal is of high priority for Montenegro and will help further develop its tourism industry. Tivat Airport’s existing terminal was opened on September 25, 1971. It was damaged by a devastating earthquake in 1979 but was quickly repaired and expanded. In 2006, the terminal was again refurbished and developed. The apron has seven parking positions. In October last year, the Serbia and Montenegro Air Traffic Services Agency (SMATSA), which controls the airspace of both countries, announced plans for the construction of a new control tower at Tivat Airport. At the time, it was said the new facility would be opened in early 2016. SMATSA is yet to reveal further project details reports Ex-YU Aviation News


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