Samsung wants to invest in Albania

TIRANA, Feb. 25 – South Korea’s Samsung group, one of the world’s largest electronic manufacturers, has presented Albania’s government with two energy projects, the government said this week.
Jae Weon Lee, a representative from the South Korean electronics giant, reviewed with Prime Minister Sali Berisha a plan to construct a 40 MWs oil thermal power plant in Fier and a power interconnection line in the south.
Albania has suffered through a continuous power crisis in the last three years, mainly due to poor management of the power corporation, lack of rain and lack of bill payments from consumers.
Albania’s government has been waging a robust campaign to seek foreign investment in its economy, offering the “Albania for 1 euro” initiative, which aims to attract more foreign investors to the country.
That project means that publicly-owned land and assets are made available to investors for a token price, in exchange for the promise of substantial capital investment.