As Albania plans massive energy-generation and trade projects, the export potential is attracting foreign companies looking for investments and profits
TIRANA TIMES
TIRANA, May 10 – Several energy-generating projects that aim to make Albania an energy exporter were revealed by the country’s government last week. Officials spelled out plans for the large energy development that will take place primarily in the Porto Romono area of Durres.
Although the plans have been public for some time, the full scope of the project was presented to potential investors at the latest Crans Montana Forum held in Tirana last week.
As Albania plans massive energy-generation projects, the export potential is attracting foreign companies looking for investments and the profits they would make once the projects are completed
The government’s plan includes two power stations, a degasing plant, an oil refinery, and a free economic zone, in addition to existing infrastructure consisting of the port of hydrocarbon and oil deposits, according to Economy and Energy Minister Dritan Prifti.
The project has take years to develop, Mr. Prifti said.
“We expect a 5 billion euro investment for components of this industrial park. We had a lot of interest from investors on this project. What prevents us is a study expected to be completed and that will tell us about the environmental impact on the tourist area of Durres. As we finish study, we will see if we will be given permission to build all components of the energy park,” he said.
Environmental issues are on the top of the agenda as there have already been some protests over the coal-powered plant scheduled to be built by Italian energy giant Enel.
Another component of the park’s plan is to allow construction of a huge oil refinery with a capacity of 5 million tons per year. With Albania’s needs being far smaller than that, it appears that when and if the plant becomes reality it will work for other countries.
The export potential is attracting foreign companies that want to help construct the energy part in return for a percentage of it long-term earnings.
“Next to the energy park will be a free industrial zone of 800 acres. We intend to call local and foreign investors to provide goods and services to Europe via Albania,” Mr. Prifti said.
Porto Romano is currently only one port used for the import of hydrocarbons. That facility was built in recent years through concession.
