Tivat and its marina Porto Montenegro

In 1899, the Austrians built a naval arsenal transforming the port into a small industrial town.

During the 20th century, this arsenal will serve as a place of construction and maintenance of the Yugoslav navy.

Upon the dissolution of Serbia and Montenegro, the new state of Montenegro inherited the war fleet as well as the port facilities.

No longer finding the use and not having the means to maintain such a work; it was sold to a Canadian billionaire, Peter Munk who decided to build a marina called "Porto Montenegro".