Chayton and Montenegro sign €700m new infrastructure plan
The largest foreign investment into Montenegro will be a €700 million ESG-compliant infrastructure development plan. The memorandum of understanding was signed yesterday by Chayton Capital, a UK private equity firm, with the Government of Montenegro and the country’s national power company.
The MOU concerns an infrastructure development plan in the region of Pljevlja, which observes ESG and circular economy principles and aims to reduce the carbon footprint. The project will comply with all ESG requirements and EU standards, putting Montenegro on the regional map for its forward thinking attitude to environmental policy and sustainable economy.
“We are delighted to be working with the Montenegrin Government in this innovative, essential and strategic project which is for the interest of whole nation, and enables it to rightly say it is an ecological state,” said David Allen, founding partner, Chayton Capital.
The MOU was signed by Chayton Capital and by Dr Dritan Abazovic, Prime Minister, the Government of Montenegro, and Nikola Rovcanin, CEO of EPCG, the country’s national power company.
Chayton Capital has sponsored a feasibility study, supported by a consortia of regional experts and industry specialists, to ensure the implementation of the best available technology and the project’s financial feasibility. The investment advisory firm, which operates globally, specialises in innovative, high-return alternative investments and asset management solutions and has been active in the CEE region since 2006.
The key elements of the plan announced yesterday include the modernisation of the energy generation segment of the Plevlja power plant with an environmentally friendly high efficiency CFB (circulating fluidised bed) type multi-fuel boiler intended for biomass and utilisation of waste materials, such as flying ash, gypsum, marl, and waste wood. Linked to this will be a manufacturing chain producing cement, cement bonded particle boards (CBPB), gypsum boards and prefabricated building systems, and there are to be associated initiatives within the agriculture and education sectors.
