Greece-based shipping company Restis Group has become the main investor in Montenegro΄s most prominent tourist project, Sveti Stefan island, according to Reuters

After running far behind schedule in reopening the island, the elite boutique hotel chain Amanresorts has turned to Victor Restis of the Restis Group to help fund a 30-million-euro reconstruction investment, said Livio Ranza, general manager of Aman Sveti Stefan, Reuters reports.

"With our Greek partner now we have all the papers to start and we have to resolve a few things with the Montenegrin government," Ranza said to Reuters.

Restis΄ business advisor and lawyer in Montenegro Goran Velimirovic told Reuters that the Greek shipowner has already invested some 90 mil. euro in the region while stating that Restis is enchanted with Montenegro and he believes that the small,  former Yugoslav state has the potential of becoming a future Monaco.

Reuters also notes the the joint venture of PPC and Restis΄ GoldenEnergy One Holdings recently submitted a bid to acquire up to 45% of the country΄s power monopoly company.