Montenegro’s government has announced it is in the final stage of talks with a consortium involving Damen Shipyards Group and marina operator Porto Montenegro. The two companies plan to build a repair facility for luxury yachts at the shipyard in Bijela, on Montenegro’s Adriatic coast.

The Montenegrin government said in a statement that Prime Minister Duško Marković recently met with Dutch businessman Kommer Damen, who serves as chairman of Damen Shipyards Group, to discuss the potential deal. At the meeting, Marković said that securing the investment was part of Montenegro’s efforts to establish itself as a premium tourist destination.

Porto Montenegro is a full-service marina located in the country’s Bay of Kotor, with berthing capacity of 450 for boats from 12m-250m (39ft-820ft) in length.

Damen Shipyards Group operates 33 shipyards worldwide, of which 15 are located in the Netherlands. The group employs more than 1,500. The facility in Bijela would be Damen’s first such investment in Montenegro.