Albania signs agreements on sale of two HPP cos

TIRANA (Albania), February 13 (SeeNews) – Albania said it has signed with Kurum International agreements for the sale of hydro power plant (HPP) operators HEC Bistrica 1/Bistrica 2 and HEC Ulez Shkopet.

In January, Albania said that Kurum International had won the two tender procedures.

The economy ministry said in a statement on Tuesday it signed on February 11 the agreements on the purchase of 100% of the shares of the operator of HPPs Bistrica 1 and Bistrica 2 and of the operator of HPPs Ulez and Shkopet.

The contracts will be reviewed for approval by the council of ministers and other relevant bodies before finally being forwarded to parliament.

Bistrica 1 and Bistrica 2 have installed capacity of 22.5 megawatts (MW) and 5.0 MW, respectively. HPP Ulez has a capacity of 25.2 MW while that of HPP Shkopet is 24 MW.

Part of Istanbul-based Kurum Holding, Kurum International specialises in investment and production in the Balkans. In particular, it is involved in iron and steel production, lime and oxygen production, as well as loading, unloading, storage, shipping brokerage and logistics operations. In addition to Albania, Kurum Holding also focuses on the Kosovo market. Operating in the insurance sector in this region via its subsidiary Kosovo E Re, Kurum Holding ranks among the important players of this sector in Kosovo.

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