Albania eyes up to EUR 300mn from Albpetrols privatisation.

By bne IntelliNews September 4, 2012
Albania hopes to collect up to EUR 300mn from the privatisation of oil producer Albpetrol, local Scan TV reported, citing representatives of the economy ministry as saying. The government has called a tender for the sale of 100% of the company and due to strong investor interest the economy ministry has extended the tender deadline to September 7 from July 26. Albpetrol has recently received licences for a qualified supplier of wholesale electricity, for energy trading as well as for gas transmission and distribution, which have prompted the growing interest in privatisation deal. Eligible bidders should meet ISO standards and need to provide a five-year business plan. Investors should have at least five years experience in the field and net consolidated assets of no less than EUR 100mn. A total of 19 companies have so far expressed interest to participate in the tender including Russias Gazprom and Chinas Jiangsu GPRO Group. Swiss-based Petromanas and Transoilgroup as well as Canadian Bankers Petroleum, all of which already operate on the Albanian market, have also indicated they will take part in the race.

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