Albania to put up for sale 1,280 companies by end-2011.

By bne IntelliNews June 2, 2011
The government plans to put up for sale 1,280 state-owned companies by the end of 2011 as it seeks to raise money to finance its capital spending programme, economy minister Nasip Naco told Panorama daily in an interview. The finance ministry has already assessed 280 facilities with assets totalling ALL 5.36bn (EUR 38mn). The priority deals will include insurer INSIG and oil producer Albpetrol, as their privatisation has been considerably delayed in the past couple of years due to weak investor interest. A few days ago, the cabinet decided to offer for sale four hydropower plants with a total capacity of 77MW. The authorities have contracted international consultants to advise on the privatisation. The International Finance Corporation (IFC) will study the concessionaire terms for Albanias Durres-Morine highway.

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