Planned investments in the island of Lastavica with Mamula Fortress near Herceg Novi this year amount to 5.1 million euros, according to the Report on Implemented Investments.
The government document, which has already entered parliamentary procedure, states that 6.45 million euros will be allocated for the project’s implementation next year.
“As of December 31 last year, 6.2 million euros had been spent on the project. The funds spent include expenses incurred for the preparation of project documentation, equipment procurement, preparatory works and salaries for employees, hiring domestic and foreign consultants, as well as the first phase of construction works,” the report says.
The state leased Lastavica Island and Mamula Fortress for 49 years. The long-term lease agreement was signed five years ago with the Swiss company Orascom Development Holding. In addition to the island with the fortress, the tenant has the right to use the maritime property. According to the report, 47,772 euros were paid last year for almost 32,000 square meters.