The Swiss company Orascom will begin work on the Mamula fortress on the island Lastvica in the Adriatic sea by the end of April. Orascom Development has a leasehold of island for 49 years under a contract it signed with the Montenegrin government in 2015. The value of the investment for this year is €4.5m. The Swiss company paid €47,770 in leasing fees last year and has shelled out €543,000 since signing the agreement, primarily on project preparation costs. In all, it’s expected to build a 23-room hotel, four restaurants, a spa center, mini-market, pools and a pier. Orascom is obligated to complete the €15m investment within 18 months.
