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Gov’t proposes to extend 35 year concession contract MBM port

Less than 3 years after the approval of the concession for the port of processing of hydrocarbons in Porto Romano, the Albanian government has proposed an addendum to the BOT concession contract.

Under the terms of the original contract, the concessionary company Port MBM would construct and operate for a 35 years period the port operating with a bay system 2.5 km offshore, before transferring it to the Albanian state.

The investment value for this project is around $ 10.2 million, while another 5 year before the contract expires an investment of 40% of the value will be made.

Porto Romano area was selected for this work because it has 85% of the storage capacity of the fuel.

By integrating with the current infrastructure, the new port would result in increased and utilized storage capacities.

The MBM is a system made up of a number of differently-locked edges securely anchored at the bottom of the sea, from a surface to which the liquid mixed filling tube and one or more pipes are connected.

The port aims to enable ships to discharge more than 20,000 tonnes.

This is expected to lead to lower fuel prices in Albania due to lower transport prices and better prices from refineries.

The project also aims to turn the country into a supply hub for the region.

During the contract implementation period, the Albanian state will receive a concessional fee of 2% per annum.

Scan Tv,  02.02.2018