Government, EPCG and Chayton Capital sign Memorandum of Understanding

Prime Minister Dritan Abazović, CEO of Montenegrin Electric Enterprise (EPCG) Nikola Rovčanin and representative of Chayton Capital David Allen signed a Memorandum of Understanding between the Government, EPCG and Chayton Capital company providing a framework for the implementation of the investment plan in industrial production in Pljevlja.

The signatories pointed out that this project will create new development opportunities in Pljevlja, which will be encouraged by a total direct investment of about 700 million EUR and the creation of over 600 new jobs.

EPCG CEO Nikola Rovčanin said that this is a historical platform for the development of the north, specifically Pljevlja, through the valorisation of resources and potentials. He recalled that investment of EUR 100 million is underway, of which EUR 70 million is directed towards ecological reconstruction.

Chayton Capital representative David Allen pointed out that these projects will make citizens return to Pljevlja, and not leave this city.

The project will boost energy production with a focus on environmental protection, create new jobs and improve the socio-economic environment for this and future generations, all while respecting the laws of Montenegro and the EU, Allen said.

Today we are creating the preconditions for a historic opportunity for Montenegro. Our goal is to meet environmental standards and to create conditions for the implementation of numerous projects. I remain a great optimist that Montenegro is really close to a new investment momentum especially in the north of the country, the Prime Minister said.