Peter Monk offers €20m for Maintenance Institute in Tivat

Podgorica’s “Vijesti” published that the Canadian billionaire, Peter Monk, had offered €20m for Tivat’s Maintenance Institute “Sava Kovačević” and the overhaul of ecological damage in the aquatorium.

Monk, the only one to register on the tender, announced that, if he became the owner of Tivat’s Maintenance Institute, he would invest up to €500m into that company, in the next 10 years.

The offer of the Canadian businessperson is below the expectations of the Government of Montenegro and the Municipality of Tivat, which had planned to solve utility problems and those of workers employed in that company from the money obtained from the sale of the Maintenance Institute.

The Commission of the Ministry of Defense of Serbia and Montenegro estimated the property of Tivat’s military shipyard, last summer, to be worth about €280m. The Tender Commission for Sales still hasn’t stated its opinion on Monk’s offer.

The Maintenance Institute in Tivat used to be considered one of the most successful Yugoslav companies of that type and it had capacities for overhaul of several ships at the same time.