Albania to prepare new big port

TIRANA, Feb. 25 – The Albanian government announced a half-a-billion euro project to construct a new container port in the southwestern city of Vlora.
The project was presented last week to Albanian Prime Minister Sali Berisha by the British-Swiss company Zumax.
The project also includes the construction of an industrial park.
Albania currently handles container cargo only through the port of Durres, 33 kilometers west of Tirana. Officials noted that a new port with updated equipment would be a large boost to the country’s economy and would also attract more investors to the country. This year, the government is planning privatization of large and strategic public companies, thus bringing to an end the public ownership of the last major assets controlled by the state.
The distribution branch of Albania’s power utility, KESH, the insurance company, INSIG, and the only oil refinery in the country, ARMO, are each scheduled to be sold off later this year.
The international tender for ARMO has already been launched and is planned to end in May.
The government has also introduced a flat-rate taxation system at 10 percent.