Tivat Airport Modernisation



Project number:


Business sector:


Notice type:


Environmental category:




PSD disclosed:

25 Aug 2015

Translated version of this PSD: Macedonian

Project Description

The EBRD is considering financing the construction of a new passenger terminal at Tivat Airport, extension of the manoeuvring area and rehabilitation and extension of the runway to achieve compliance with the International Civil Aviation Organisation’s (“ICAO”) safety standards.

The capacity of Tivat Airport is already insufficient to handle the demand during the peak summer season and the Airport has become a barrier to growth of the country’s tourism industry by limiting the access of international tourists to Montenegro.  The Project will address this issue by increasing handling capacity of the passenger terminal and adding aircraft stands that would provide sufficient capacity for the next ten years and improve service quality.

Transition Impact

The Project is expected to have the following impact: (i) improvement of safety standards and achievement of compliance with the relevant ICAO recommendations; (ii) promotion of private sector involvement in non-aeronautical commercial activities at Tivat Airport; (iii) incorporation of innovative elements of advanced sustainable building technologies at the new terminal and adoption of internationally recognised certification for the Client’s operations (Airport Carbon Accreditation); and (iv) fostering financial sustainability and demonstration of the Client's budgetary independence via a commercial financing structure.

The Client

JSC Airports of Montenegro (“APM”, the “Client”), a state-owned operator managing the international civil airports of Podgorica and Tivat.  APM was established as a public company by the Government of Montenegro in July 1999 to take over and manage airports in Montenegro and was converted into a 100% state-owned JSC in February 2014.

EBRD Finance

Senior loan of up to EUR 20 million.

Project Cost

EUR 32 million.

Environmental and social categorisation, impact, and mitigation

The Project has been categorised B in accordance with the EBRD’s 2014 Environmental and Social Policy as the environmental and social impacts associated with the Project can be readily identified and addressed through mitigation measures. 

The environmental and social due diligence (the “ESDD”) is underway to assess the potential issues associated with the Project and the Client’s current operations. Based on the results of the ESDD an Environmental and Social Action Plan (“ESAP”) will be developed and agreed with the Client, which will enable the environmental and social risks associated with the Project to be adequately managed, and for the project to be structured to meet the EBRD’s Performance Requirements.

This summary will be updated once the ESDD is completed.

Technical Cooperation

Technical Co-operation assignments linked to the Project are expected to include an Energy Efficiency Audit, to be funded under Sustainable Transport Technical Assistance Programme, as well as consultants to assist in the Preparation of Concept Designs and related “Employer’s Requirements” and provide Procurement Support to the Project Implementation Unit.  It is anticipated that the Central European Initiative (”CEI”) will support both of the latter assignments.

Company Contact

Contact person: Ana Lončarević Badnjar

Address: Golubovci bb, 81000 Podgorica

Email: ana.loncarevic@apm.co.me

Tel: 00382 (0) 69 544 193

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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