The State Oil Company of the Azerbaijan Republic (SOCAR), represented by Triangle Investments and Development Limited, will build a resort in Kumbor in the Bay of Kotor in Montenegro with the helpd of Azmont Investments for 500 million euro, PRIME reports.
The tourism facility will cover 25 hectares and will have villas, mooring, 70 shops, cafes, restaurants, tennis center, helicopter pad. It will become part of the One&Only network of Sol Kerzner.
The SOCAR won the tender to lease the place for 90 years in 2012. Azmont’s investments were increased from 250 million euro in the next 8 years to 500 million euro to build it in 28 months, as stated by its spokesman Gafar Gurbanov.
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