With assistance from the United States aimed at infrastructure development and enhancing Montenegro’s economic standing

Montenegro and the United States are further solidifying their economic partnership, with the latest Memorandum of Understanding involving Bechtel and Enka poised to aid infrastructure growth by strengthening the connections forged under the Memorandum of Understanding on strategic economic cooperation signed with the U.S. on October 21, 2024.

The MoU was executed by Montenegro’s Prime Minister Milojko Spajić, Bechtel’s President for Regions and Corporate Relations Justin Siberell, and Enka Executive Committee Member Ozger Inal, in the presence of U.S. Ambassador to Montenegro Judy Rising Reinke.

For years, we have envisioned the development of infrastructure in Montenegro – discussing the incredible potential of highways linking the coast to the north and unveiling the natural wonders our country possesses. This long-held dream is now transforming into a tangible reality. Our strategic partners from America are prepared to assist us on this path, deploying their top-tier engineering and construction firms to participate in Montenegro’s successful evolution – a triumph for both Montenegro and the United States. This represents a logical progression following the Memorandum we entered into with the U.S. last October, which will not merely remain a document but will lay the groundwork for decades of economic collaboration between our nations, stated Prime Minister Spajić post-signing.

The Memorandum emerges from the continuous partnership fostered under the U.S.-Montenegro Economic Dialogue. Ambassador Judy Rising Reinke underscored that this memorandum embodies a united vision for economic advancement, regional connectivity, and overall development.

The MoU underlines Montenegro’s dedication to upgrading its infrastructure, thereby unlocking new prospects for its citizens, American businesses, and the broader Western Balkans. This also serves as further evidence that the collaboration formalized last year in Washington during our bilateral economic dialogue is yielding tangible benefits. The United States takes pride in supporting Montenegro as it assumes a pivotal integrative role within the region, Ambassador Reinke remarked.

Bechtel’s President for Regions and Corporate Relations, Justin Siberell, expressed his excitement regarding the collaborative prospects for Montenegro’s strategic infrastructure corridor, expected to encompass transportation, energy, and technology initiatives.

Bechtel and ENKA have consistently demonstrated success in constructing high-quality infrastructure corridors across the Balkans, earning numerous accolades for our exceptional achievements in environmental stewardship, project management, and financial structuring, stated Siberell.

This MoU marks yet another significant advancement in expediting Montenegro’s economic growth through the execution of essential infrastructure projects, all while adhering to national regulations and the highest international standards. The primary goal is to further establish Montenegro as a regional hub and bolster its economic resilience through enhanced cooperation with the United States.

Collaboration detailed in the MoU will encompass a wide array of activities – including identifying developmental pathways and assessing the feasibility of critical infrastructure and energy initiatives.

Furthermore, the MoU lays the groundwork for future cooperation regarding project prioritization, master planning, financial structuring, and technical assistance, all aimed at ensuring successful project execution.

The central objective of the Memorandum is to promote sustained economic advancement in Montenegro, affirming both countries’ commitment to expanding bilateral relations and establishing a solid foundation for long-term growth.