Podgorica, (MINA-BUSINESS) – The Government has adopted a draft decision to grant a concession for Montenegro’s Podgorica and Tivat airports, according to which the concession would be awarded to the top-ranked bidder, Incheon International Airport Corporation (IIAC), for a period of 30 years.

 

The coordinator of the Ministry of Transport, Filip Radulovic, said that after the 30-year concession period expires, full ownership of the airport assets will remain with the state.

 

“That’s a key advantage of this process. Everything newly built or reconstructed will remain state-owned. As for the assets we are granting, they remain our property,” Radulovic said at a press conference.

 

He noted that the prolonged delay in the process had sent a negative signal to investors, pointing to inefficiencies in the system and the state’s limited ability to implement major projects.

 

“It was very important to bring this process to a close and finally conclude something that has taken too long. I’m not prejudging Parliament’s final decision, whether the concession will be approved or not, but it was crucial to complete the procedure,” Radulovic said.

 

According to him, the top-ranked bidder is South Korea’s Incheon International Airport Corporation, while the estimated value of the assets involved in the process stands at €265 million.

 

Radulovic reminded that the final decision on awarding the concession rests with Parliament.

 

Radulović emphasized that a concession is neither a sale nor a privatization of state property, but rather a management model under which the airports remain state-owned.

 

Director of Airports of Montenegro Roko Tolic said the Government’s decision should be viewed in a broader context, stressing that the process needed to be concluded in order to support further airport development and provide clarity to partners, employees, and investors. 

 

He noted that the company was not directly part of the tender commission, but was consulted multiple times on technical matters to assist the commission in forming its opinion.

 

Tolic thanked the Government for what he described as concrete and active support over the past two years in addressing the airports’ needs, saying he particularly appreciated it given his responsibility toward employees and business partners.