Who wants it? Who needs it? The Vlora coastal terminal, Albania
Publisher: CEE Bankwatch Network
Volume: 3 pages, pdf
Description:
A siting plan for a hydrocarbons terminal adjacent to the southern Albanian harbour town of Vlora was conceived by the Albanian government in 2001. The project was approved in 2003, and a year later a concession agreement with an Italian investor – La Petrolifera Italo Rumena – was signed on the basis of an unsolicited proposal. Part of the agreement included a set of generous incentives, enabling the Italian company to purchase 183,000 square metres of the project area for a symbolic price of 1 euro1 . In addition, the concession granted the company the right to be the sole operator in the Bay of Vlora.