Kurum International to buy Albania's HPPs Bistrica 1, Bistrica 2 for 52 mln euro

TIRANA (Albania), January 10 (SeeNews) – Kurum International will acquire the operator of hydropower plants Bistrica 1 and Bistrica 2 for 52 million euro ($68.1 million), after winning a privatisation tender opened by the Albanian government.

The government approved on Wednesday the tender evaluation committee’s final report selecting Kurum International as the winner in the tender for the purchase of 100% of the shares of the operator of hydropower plants Bistrica 1 and Bistrica 2, it said in a decision posted on its website.

According to the decision, the Albanian economy and energy ministry will negotiate and sign the contract with the successful tenderer.

Bistrica 1 and Bistrica 2 have installed capacity of 22.5 megawatts (MW) and 5.0 MW, respectively.

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.

($=0.7632 euro)

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