The Government of Montenegro has approved financial aid of 75,000 euros to Montecargo, a majority state-owned railway freight operator, during a recent phone session.
Montecargo is facing operational difficulties due to a sharp decline in the transport volume of bauxite ore for its client Uniprom Metali, which, along with copper concentrate transport, constitutes the company’s core business and main source of revenue.
The state aid aims to support Montecargo’s operational capacity and improve the efficiency of railway freight transport amid challenging market conditions and business uncertainties.
Previously, Montecargo received 150,000 euros in De Minimis aid, funded from the current budget reserve. The Ministry of Finance approved allocating half of the new requested funds from the 2025 budget reserve, with the remaining half to be provided by the Ministry of Transport.
