Obod officially leased for 30 years
Obod’s 30-year lease agreement has entered into force, after the consortium comprising the Canadian company Eviana Health Corporation, Montenegro Bio Science and Ramel fulfilled all legal requirements.
This fulfils the conditions for the former regional giant in the production of household appliances to get a new purpose, which should primarily increase economic activity in Cetinje and generate new employment.
The consortium will be engaged in the cultivation of industrial hemp and the extraction of CBD oil from dried industrial hemp for industrial and nutritional purposes.
The consortium has committed to invest at least 10 million euros in the period of two and a half years since the signing of the contract, and to allocate at least 10 percent of the realized net profit to the account of the Capital. The tenant is also obliged to pay a monthly lease, i.e. to pay 660 thousand euros annually to the Old Royal Capital’s giro account on that basis. The old royal capital of Cetinje signed a lease agreement with the Consortium on 4th March 2020, which entered into force on 8th April 2020.
The consortium also submitted two guarantees – a performance guarantee for the investment worth 300 thousand euros, as well as a guarantee for payment of rent. After entry into force of the contract, record on the handover of the property was prepared, thus formally and legally the tenant took possession of the property.