Visit-Montenegro.com: EUR 420.000 for the Marina

Podgorica – The Russian consortium offered EUR 420.000 for majority block of shares in the Marina Bar and EUR 10.7 million worth investment programme, while Montenegrin joined companies offered EUR 350.000 for 54.3 percent ownership stake and half as much money for investments as the Russians, it is said in the Tender Commission for Daily “Vijesti”.

The third bid offered by the company “Kaca” from Bar was rejected since “it was not submitted within the specified deadline”.

Nominal value of one share is €5.79 and yesterday’s price at the stock market was €2.28.

Consortium led by the company from Bar “Expert Marine”, which is founded by Russians, has joined forces with the Russian companies “Nash Gorod” and “Pobeda Capital”, and they offered merely €0.51 per Bar-based company’s share.

The construction company “Bemax” from Podgorica together with the company Y.C.YUG from Bar offered €0.44 per share.

Srdjan Vukcevic, a member of the Tender Commission for privatization of the Marina Bar says for “Vijesti” that in the following seven days they will be examining formal and legal validity of the two bids and he adds that the third bid was not opened but, instead, it was returned to the bidder since it was not submitted within the given deadline.

A period of fifteen days is anticipated for selection of the best bid, while the most points will be assigned to offered five-year investment programme, as well as for concession charges, references and social programme.

Offered concession charges (both fixed and variable part) will be announced after thorough analysis of bids.

The Commission should examine whether bidders have experience in the domain of the main activity of the Marina for at least 5 years, or an annual turnover amounted to EUR 10 million in the last business year. Bidders are expected to have generated profit over the past 3 business years. The right to take part in the bidding process for Marina is given to the bidder whose owner fulfills the terms and requirements of the tender.

The Commission has established that the bidders met conditions regarding deposit payment or Bid Bond in the amount of EUR 100.000. The deposit payment or Bid Bond should have been issued in the form of the unconditional bank guarantee, which is payable upon first demand and issued by the bank that has at least BBB credit rating according to the Standard and Poor’s Agency.

The privatization of Bar-based company was announced on several occasions earlier, but it couldn’t be launched before due to unresolved issues on property rights between the municipality of Bar, the Port of Bar and the shipping company “Prekookeanska Plovidba”.

The Marina Bar is surrounded with the public beach, promenade and the passenger terminal building with ferry service and it covers a land area of 55.000 sq m and maritime zone of 100.000 sq m. Planned capacity of the Marina includes 900 berths in the sea and 250 on the land for winter storage.

By I.G.