INVESTMENT PROJECTS IN MONTENEGRO

4 March 2016

ENERGY

Submarine cable

• Construction of submarine cable with energy of 1.000 MW capacity between Italy and Montenegro

• Investment worth more than 800 million Euros (415 km long, 390km undersea and 25km of underground

cable)

• Project realized by TO and TERNA, Italy

• Project will position Montenegro as regional energy hub, giving the investment opportunity for all region.

II Block TPP Pjevlja

• Construction of the II Block TPP Pljevlja, installed power capacity of 250MW; total investment costs338,5 mil Eur

• Negotiation with potential investors in progress

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Hydro Power Plant Morača

• Technical Design encompases construction of 4 hydro-power

plants with total installed power of some 238.4 MW and an

average annual production of 721 GWh.

• All technical documentation is available for investors insight.

Hydro Power Plant Komarnica

• Beside construction of HPP Morača, construction of HPP

Komarnica is planned, the annual production is about 232 GWh

and total installed power of 178 MW.

ENERGY

Maoče project

• Concession for the exploitation of coal from the basin of Maoče and the construction of a thermal power

plant of the estimated capacity of 500 MW (2k250MW), 45 years concession, with a possibility of extension up

to 22,5 years

• Concession fees for the exploitation of coal will be calculated as a percentage of revenues from the sales of

electricity

TAP - IAP

• Construction of gas pipeline from Albania to Croatia via Montenegro and B&H

• Total lenght 511 km (94 km in Montenegro)

• The project will enable gasification of MNE

ENERGY

Small hydropower streams Biomass potential

Planned Contracted Remained Planned Contracted Remained

132 MW 73 MW 59 MW 39,0 MW none 39,0 MW

Solar potential Wind potential

Planned Contracted Remained Planned Contracted Remained

31,5 MW none 31,5 MW 189 MW 118 MW 71 MW

Projects under construction:

• Wind farms on the site Krnovo and Mozura, total installed capacity of 120 MW

• Construction of 41 small hydro power plants is given throughout 21 concession contracts; total installed

capacity 72 MW

Renewable energy

ENERGY

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Construction of Highway Bar – Boljare

• The highway Bar – Boljare is included in SEETO comprehensive regional transport network for the

Western Balkan, as SEETO route 4 and it will connect Montenegro with Europe, begining from the Adriatic

coast via the Capital City Podgorica, to the border with Serbia

• The first Section, Smokovac-Uvac-Mateševo is currently under construction; estimated costs of this

section - 809 million Euros

• The Project includes construction of additional sections: Mateševo–Andrijevica, Bypass around Podgorica

(Smokovac–Tološi–Farmaci), Djurmani-Farmaci and section Andrijevica-Boljare.

Railway Line Belgrade (Vrbnica) – Bar , Reconstruction and modernization of Railway line

• Modernization and reconstruction of the railway line in compliance with European and main

international railway lines and achievement of interoperability of the railway lines along the Corridor X

• Total lenght is 454,8 km of which 167,1km in Montenegro and 287,4km in Serbia

• The value of the project is estimated in the amount of cca 250 million Euros

TRANSPORT

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Development of Airport Podgorica

• The project includes the construction of a new terminal building in capacity of 12,500 m², expansion and

reconstruction of manoeuvring areas and apron, new fuel depot and parking with ground support facilities

(including shelter)

• Estimated value of this project - 95 million Euros

TRANSPORT

SINGLE PROJECT PIPELINE

National Investment Commission was established on 19 February 2015

Commission is chaired by the Prime Minister

Technical apparatus of National Investment Commission is Secretariat for Development Projects

The Single Project Pipeline was adopted on 2 December 2015

SPP includes 64 projects: 10 projects in energy, 9 projects in transport, 30 in environment and 15 in social

sector

TOURISM

LUŠTICA BAY - Tivat

Mixed use resort, which includes

construction of:

8 hotels, golf course with 18

holes,

1,250 residential units (villas and

apartments), 2 marinas, city

center

Investment value: cca 1.2 billion€

Investor: Orascom, Egypt and

Switzerland

- Construction of a 44.000.000 €worth marina (the mainconstruction works related to theconstruction of two breakwaters)- The construction of 10 buildingswith 72 apartments completed- Construction of the first hotel isexpected to start

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TOURISM

PORTONOVI – Herceg Novi

Long-term lease of former

military complex in Herceg Novi

which includes construction of:

• luxury hotel with SPA andwellness center,

• luxury complex with 500units and villas of the highestclass, a world – class marinawith a capacity of 250 berths,

• large number of shops, cafesand restaurants.

- Investment value: cca 500 mil €

Investor:

Azmont Investments Ltd.

- Construction works on themixed zone (45.000 m2)completed;

- Conceptual design of thehotel "One & Only“ adopted

- Italian company "ImpresaPizzarotti" chosen for themain contractor

TOURISM

PORTO MONTENEGRO – Tivat

Mixed used resort which

includes:

luxury 5* hotel, restaurant, bars,

cafes, galleries, nautical

museum, green market, private

health institutions, sports

facilities established, luxury

apartments

- Investment value: cca 400 mil €

Investor:

Adriatic Marinas Ltd. and PM

Securities (Barbados) INC

- 455 berths built of 850 totalplanned;

- 6 elite objects of touristaccommodation,representative object LidoMar,

- Regent Hotel and luxuryapartments

TOURISM – upcoming projects

NAUTICAL TOURIST CENTERVIP MARINA – Kotor

Long-term lease for period of 30

years for land and aquatorium in

Boka Bay, which includes :

marina with the capacity of about

150 berths with facilities and

infrastructure, administrative

building, commercial facilities,

high category hotel complex with

function in nautical tourism

(three hotels total gross area

15.645 m2)

- Investment value: cca 90 mil €

Tender preparation in

progress

TOURISM

Lastavica ISLAND AND “MAMULA” FORTRESS HERCEG NOVI

Long term lease: 49 year

- Redevelopment of theMamula Fortress bypreserving the culturalheritage and promoting thehistoric character of theisland;

- The project will preserve thenatural environment,combining it with modernhotel facilities, sports andentertainment;

Investor:

Orascom, Egypt and Switzerland

- Investment value: cca 15 mil €

TOURISM – upcoming projects

ADA BOJANA – Ulcinj

Public-private partnership

- long term lease:

- Development of the western

part of the island: an area of

about 100 ha planned tourist

complex (from about 520 ha

total area of island), which

includes at least one 4-5*

hotel, villas and other types of

residential accommodation

Investment value: cca 200

million

Tender preparation in progress

TOURISM – upcoming projects

NJIVICE – Herceg Novi

Public-private partnership -

long term lease (90 yeras):

Land of 30,597 m² and aqatorium

of 7,313 m²

- Planned for marina, business

or congress hotel, apartment

facilities, 5000 m² beach

- Tender is published

TOURISM – upcoming projects

KOLAŠIN 1600 – Kolašin

Ski resort

- Kolašin 1600 is located in the

south part of the Bjelasica,

surface amounts to 27,19 ha

- Access to the base settlements

from the direction existing ski

resorts Kolašin 1450

- The main ski lift of Ski resort

Kolašin 1600 is ski lift K8/D6C

- Investment value: cca 65-75

mil €

- Call for bid submission is

published

TOURISM – upcoming projects

MEDITERAN-ŽABLJAK

Public-private partnership

- Construction of a new tourist

resort

- Former military complex in

Žabljak in the area of 13.951 m²

- Located in 1456 m above the

sea level, in the most attractive

area of the national park

“Durmitor”

- Call for bid submission is

published