Korean Consortium Wins Montenegro’s Largest-Ever Airport PPP Deal
A South Korean consortium, which includes GS E&C, LX Pantos and Korea Airport Corporation, led by Incheon International Airport Corporation (IIAC), has been selected to operate and modernize Podgorica and Tivat airports.
This agreement includes a EUR 100 million (US$117 million) upfront concession fee and EUR 200 million (US$235 million) in pledged investments, bringing the total value of the concession to approximately EUR 500 million (US$587 million). The consortium will also pay annual royalties tied to performance. In picking the South Korean group over several European bidders, the Montenegrin government emphasized the proposal’s alignment with its infrastructure modernization goals, signaling a new era of regional aviation cooperation and strategic growth in the Western Balkans.
Podgorica and Tivat airports served over 2.5mn passengers in 2023, according to the Montenegrin Civil Aviation Agency. The new operator is expected to double capacity over the next decade.
Country updates
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January 14, 2025
Montenegro announces RFP second stage for Podgorica and Tivat Airports
The Government of Montenegro, through its Tender Commission, has issued a Request for Proposals (RFP) as part of the ongoing tender process to grant a long-term concession for the Podgorica and T...
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August 25, 2020
RFEOI launched for technical consultant for energy efficiency study in Western Balkans
The World Bank Group has launched a request for expression of interest (RFEOI) seeking technical consultant to perform Residential Energy Efficiency Market Assessment in six Balkan countries name...
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January 20, 2020
Teams prequalify for two airports concession in Montenegro
The Transport Ministry of the Republic of Montenegro has qualified four teams in the tender for the 30-year concession contract of Tivat and Podgorica international airports. The expected investment i...
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November 28, 2019
7 bids for Tivat and Podgorica airports concession
Seven bids were submitted for RFQ for the 30-year concession of Tivat and Podgorica international airports in Montenegro. The deadline to submit bids was on November 25. 4 companies submitted indivi...
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November 04, 2019
wpd, Vjetroelektrana Budva sole bidder for tender of wind project in Brajici
The consortium of Germany's WPD Windmanager and a local company in Montenegro, Vjetroelektrana Budva, is the sole bidder for the tender launched for the construction of at least 70 MW w...
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