Turkish port operator buys Montenegrin company

The Turkish company signed an agreement on buying 62.09 percent of the stakes in state-run Container Terminal General Cargo JSC.

Turkish port operator buys Montenegrin company

World Bulletin / News Desk

Turkish port operator Global Ports on Friday signed an 8-million-euro agreement on buying 62.09 percent of the stakes in Montenegro's state-owned Container General Cargo Terminal JSC in city of Bar.

Agreement was penned by Branko Vujovic, president of Montenegro's privatization authority, and director of Global Ports Saygin Narin, said a statement released by the Montenegrin government.

Global Ports will takeover the stakes in January 2014 and make the payment by the end of this year.

"This agreement is a sign of expanded economic cooperation between Montenegro and Turkey, not only in the economy but in good relations between two countries," said Vujovic.

Narin, on his part, said that Global Ports had "big plans" for the Montenegrin port and they wanted to make it one of the biggest ports in the region.

Last Mod: 15 Kasım 2013, 17:21
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