World Bank to help KESH privatization

TIRANA, Sept 18 – The International Financial Corporation of the World Bank will help the Albanian Electro-Energy Corporation in its privatization process, according to the finance ministry. KESH is at the moment 100 percent state owned. It is believed it should be privatized, or parts of it should be privatized until 2009. it will be first restructured and divided into three divisions. This process is expected to start at the end of the year and be completed in 2007.
During 2006-2009 period the government plans to privatize sectors of oil, gas, power distribution, some services at the Durres port, giving small hydropower stations by concession, according to the ministry of Economy, Trade and Industry. Armo and Albpetrol, power distribution are expected to get privatized in 2007. the ministry is assisted from the U.S. company “Hunton & Williams” at the preparation stage.