KESH sale formula gets green light

TIRANA, March. 11- The Laws Commission in the parliament approved yesterday only with the votes of the majority, the legal formula for the privatization of the distributing unit of Albanian Electro-Energy Corporation (KESH). The opposition opposed on grounds that the formula granted too many capacities to the government. The formula foresees the sale of up to 76 percent of the shares to strategic investors and the rest for land owners on sites where KESH buildings are located. The privatization of KESH is expected to be the most difficult so far. The debt that consumers have towards the corporation is 370 million euro while KESH has taken out loans amounting to 241 million euro out of which 140 million will be carried by the buyer. (Tirana Times Staff)