From Feb. 2016 to 15 March this year, BMJ Industries from the United Arab Emirates invested €20.5 million in the Podgorica-based New Tobacco Factory, NDKP, suggests the document on the implementation of the recapitalization agreement, adopted by the Montenegrin govt on Thursday.
Based on the audit report, developed by the independent auditor Ernst & Young, it was noted that the BMJ Industries had met all the requirements envisaged by the recapitalization agreement, reported Pobjeda, a daily. The auditor also determined the total investment of the investor made in compliance with the recapitalization agreement, and it amounted to €20.5 million, says the govt’s document.
The recapitalization agreement was signed on Feb. 2016 by the representatives of the Government of Montenegro, the capital Podgorica and the company BMJ Industries. Three years ago, the Arabian company submitted a bid for the sixth privatization tender, that is, the recapitalization of the NDKP in Podgorica, and offered €20 million investment for a 3-year period.
Moreover, the govt’s document says that the Arabian company previously informed it [the Government of Montenegro] that 56 employees were recruited in the NDKP for an indefinite period of time by 15 April 2019.
