TriGránit prepares for €2 bln tourism development in Montenegro

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Hungary's TriGránit Zrt, one of the biggest construction companies in the region, is preparing to make greenfield tourism developments in Montenegro worth as much as €2 billion, more than country's annual GDP, MTI reported on Friday.

TriGránit president Sándor Demján met with Montenegro's Tourism Minister Predrag Nemezic on Thursday to discuss the plans, which involve building quality accommodations along the country's coast in order to expand the tourist season to nine months. The project could result in the creation of as many as 10,000 new jobs.
Some of TriGránit's biggest owners have also shown interest in the country apart from their holdings in TriGránit. Peter Munk of Barrick Gold Corporation and Trizec Properties, who holds 20.29% of TriGránit, has made a €3.2 million offer for the Arzenal battle ship repair port in Montenegro, and Nathaniel Rothschild, who owns 15% of TriGránit, has made an offer to build a tourist complex in the country.

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