Change font size:
TIRANA, May 26 – The Albanian government said on Monday that the 125 million Euros it will receive from the sale of the country’s only oil refinery, ARMO, will be used to pay foreign debt and construction work on the Albania-Kosova highway.
Its sale revenues will be included in this year’s supplementary budget for the second half of 2008, according to Deputy Minister of Finance, Sherefedin Shehu.
A US-Swiss consortium last week won the tender that will grant it a controlling stake in ARMO.
That was one of the three strategic public properties to be sold in the country this year, together with the distribution branch of Albania’s power utility, KESH, and the state-owned insurance company, INSIG. (Tirana Times Staff)
