EBRD mulls over Euro 15 mln loan to Durres port

TIRANA, Sept. 11 – London-based EBRD, one of the largest investors in Albania’s private sector, is considering approving a Euro 15 million loan to the Durres Port to finance the extension of the entrance channel and harbour basin at the country’s biggest port.
The proposed project will finance the dredging of the entrance channel and harbour basin at the Port of Durres in Albania to allow vessels with a draft of 10.5 m to enter the port, equating to vessels of a size of 30,000 DWT (Deadweight Tonnage) for bulk cargo or 1,700 TEU (Twenty-foot Equivalent Unit) for containers,” says the EBRD.
The project will have significant demonstration impact as the first loan to a state-owned company on a non-sovereign basis in the transport sector. Additional transition impact will be gained from the introduction of energy efficient technologies, improvement of environmental standards and the use of concessions as the port migrates to a landlord port model.
The project’s total cost is estimated at Euro 20 million, of which 5 million Euros will be co-financed by the Durres Port Authority.
The Port of Durres is the country’s largest port and is located 42 km from the capital Tirana, adjacent to the city of Durres, in the northern part of the Bay of Durres.
The port is a key node in Pan-European Corridor VIII, a transport corridor from the Italian ports of Bari and Brindisi to Durres, then across Albania, FYR Macedonia and Bulgaria, through to its Black Sea ports.