One of the directors of the Italian company Pizzarotti, involved in Belgrade Waterfront project, arrested in Montenegro

Antonio Facchinetti, one of the directors of the Italian company Pizzarotti, the main contractor of the Portonovi project, was arrested last night in Montenegro on the orders of the Special State Prosecutor’s Office, according to the Podgorica-based newspaper Vijesti today.

This Italian company, among other deals, signed a contract for the construction of the Tower (Kula), a part of the Belgrade Waterfront project, in 2018.

According to Vijesti, a special police unit arrested Facchinetti on charges of abusing his position in business. The other company partner is allegedly in Italy. The Italian company allegedly pulled out over EUR 21 million from Montenegro through associated companies, while, according to Vijesti, it owes millions of euros to the subcontractors involved in the project.

Three years ago, Pizzarotti signed a contract with the Belgrade Waterfront Company, stipulating the construction of the 40-storey high Tower of Belgrade, and was dubbed as ‘one of the most important Italian companies in the construction sector, which is becoming a leader in the international market in the segments of large-scale, complex construction works, as well as for large infrastructure projects’.

The company’s most important projects include the Portonovi Resort Montenegro in Montenegro, the Marriott AC Hotel and 1 Seaport and 45 Broad Street skyscrapers in New York.

Vijesti had previously reported about suspicious business relations between the investors of the Portonovi project in Kumbor, the Azmont Company, the main contractor, the Italian company Pizzarotti and a number of other domestic and foreign companies engaged in subcontracting, reporting many problems, including not paying subcontractors for the completed work.

This has reportedly been confirmed unofficially to Vijesti by a number of domestic and foreign companies which were or are still engaged as subcontractors in the construction of the luxury tourist complex which Azeri investors are building on the site of a former military barracks.

(N1, 09.12.2021)

This post is also available in: Italiano

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