Over EUR 6 million invested in Mamula so far
A total of € 6.2 million has been invested in the reconstruction and transformation project of Lastavica Island with the Mamula Fort, Predrag Nenezic said, former Minister of Tourism, and executive director of OHM Mamula Montenegro.
OHM Mamula is a company owned by the Swiss Orascom which also builds Lustica Bay resort.
The investments made so far, with the preparation of project documentation, relate to the procurement of equipment, preparatory works, the hiring of domestic and foreign consultants
‘The planned investments for this year are EUR 5.1 million and for the next EUR 6.45 million. The value of Mamula as a cultural heritage is the basic idea behind the design and conception of the future tourism product, so the protection of the island and the most attentive and thoughtful relationship are at the core of the main project as well as a comprehensive conservation program.’, Nenezic said.
The total investment is expected to exceed EUR 20 million.
The contracted investment obligation amounts to a total of EUR 15 million and the state leased the island with the fortress for a period of 49 years.
The handover protocol, based on a long-term island contract with Mamula Fortress, was signed in mid-June 2017 by representatives of the state and the Swiss-Egyptian company Orascom.
The deadline for completion is 18 months from the start of the main works. Nenezic said that work on the island had begun on a significant scale already during the preparatory phase, while the main works are beginning this spring.