Karanovic & Partners in cooperation with local lawyers | View firm profile
CKB Bank, a member of OTP Group, has recently signed a project financing agreement for the construction of the first cable car in Montenegro,with the company Kotor – Lovćen Cable Car. It was followed by the signing of the direct agreement with the Government of Montenegro.
The successful completion of this transaction was facilitated by the guidance of our team advising CKB Bank, led by our Senior Associates Sandra Perišić and Tijana Arsenijević. They provided full legal support to the financier, drafting the loan agreement and direct contract, as well as actively participating in negotiations between respective parties.
The construction of the cable car connecting the coastal town of Kotor and the Lovćen National Park has reached its final phase of construction and is expected to be operational by July 13.
Once completed, the cable car will have the capacity to transport 1000 passengers in an hour, while the ride will take only eleven minutes, representing a significant milestone in Montenegro’s efforts to enhance its tourism infrastructure and promote sustainable transportation options.
26th June 2023