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ATCI: Albanian Times, 97-12-29
Albanian Times Vol. III, No. 4
December, 29 1997
CONTENTS
[01] EU to Grant Emergency Aid to Albania's Flooded Areas
[02] Floods Cause Heavy Damage in Northern Albania
[03] EU Grants Albania 66 mln Ecus in PHARE Aid
[04] Albanian Diet Linked to Longevity Report
[05] Albania, Italy Agree to Boost Economic Ties
[06] Italian Firms to Build Albanian Industrial Park
[07] Albania Metals See Investment Boost
[08] Albania Signs Oil, Mineral Contracts
[09] IMF Says Albania Doing Well, More Reforms Needed
[10] Italy Helps Albania Relaunch Naval Fleet
[11] Albanian Privatisation Drive Targets Foreign Cash
[12] NEBEX Signs Deal with Albbaker Co.
[13] Albania Receives $10 mln U.S. Grant for Infrastructure
[14] Italian Bank to Loan Albania Chrome Firm $40 mln
[01] EU to Grant Emergency Aid to Albania's Flooded Areas
BRUSSELS, Dec 23 - The European Union will give emergency food aid to about
7,500 people stricken by floods in Lezhe, northern Albania, the European
Commission said. The European Community Humanitarian Office ``has
authorised immediate release to the municipal authorities of 10 tonnes of
mixed foodstuffs (wheat, beans, oil)...Further foodstuffs, notably canned
beef, are being mobilised for early distribution,'' the EU executive said
in a statement. The Commission said it could take a decision on additional
aid. The EU was standing by to ship blankets, winter clothing and shelter
materials should they be needed, it said. Contingency arrangements were in
hand for a draft financial decision by the Commission.
[02] Floods Cause Heavy Damage in Northern Albania
LEZHE, Dec 22 - Heavy rains damaged homes and a railway line and destroyed
crops in north-western Albania. More than 1,600 homes were damaged and a
stretch of railway connecting the region with the capital Tirana was swept
away. In Lezhe, a local official said around 70 percent of the wheat crop
had been destroyed. According to officials, there have been no victims.
About eight thousand hectares of land have been flooded, officials
said.
[03] EU Grants Albania 66 mln Ecus in PHARE Aid
TIRANA, Dec 19 - The European Union granted Albania 66.4 million Ecus in
aid to upgrade its public administration, improve roads in border regions
and support the budget, the EU Commission said. ``The assistance to the
public administration reform is to upgrade staff, restructure ministries,
improve financial control systems and contribute to the judiciary,'' said
the Commission delegation in Tirana in a statement. ``The police will be
supported by an improvement in the skills of its forces and supply of
equipment,'' it said. The aid was granted under the EU's PHARE programme,
which is designed to help east European countries reform their economies
and bring their institutions closer to EU standards. Part of the money will
go to rehabilitate the East-West corridor from the Adriatic port of Durres
to the eastern town of Pogradec on the Macedonian border. PHARE will also
fund the rehabilitation of 70 km of the southern Rrogozhine-Fier-Vlore road,
which runs parallel to the Italian coast and links the ports of Vlore and
Durres. The grants should have been agreed by mid-1997 but the agreements
took months to prepare following the installation of the Socialist-led
coalition government. PHARE would allocate 14.9 million Ecus to support the
budget, the statement said.
[04] Albanian Diet Linked to Longevity Report
LONDON, Dec 19 - Albanian adults have among the lowest mortality rates in
Europe despite coming from its poorest country and having limited access to
health services, researchers reported. The reason is probably the Albanian
diet, high in fruit, vegetables and olive oil, the researchers from the
London School of Economics and University College London said in a report
in The Lancet medical journal. Their figures for Albania added to mounting
evidence linking the so-called Mediterranean diet with low rates of heart
disease. Albanian women live to an average of 74.2 years old and men to
67.8 years, about the same life expectancy as Britons, the researchers
found in the first verified mortality data from the former communist
nation.
[05] Albania, Italy Agree to Boost Economic Ties
TIRANA, Dec 18 - Italy and Albania have signed four agreements aimed at
strengthening political and commercial ties and reviving the Balkan state's
shattered economy, Italian Foreign Minister Lamberto Dini said. Dini, on a
one-day visit to Tirana, said Italy would provide 317.2 billion lire ($182
million) in aid to Albania over three years and would give maximum support
for Albania's integration with European institutions. ``These are unique
political and economic agreements Italy has agreed with the Albanian
authorities which are intended to reinforce and accelerate...economic
cooperation,'' he told a news conference. Sokol Gjoka, spokesman at the
Albanian Foreign Ministry, said Italy had given 22 billion lire ($12.6
million) requested by the Albanian government for its emergency programme
for water and power supplies and the road network. Gjoka said Rome also
granted 5.5 billion lire ($3.1 million) for the health system.
[06] Italian Firms to Build Albanian Industrial Park
TIRANA, Dec 16 - Albania's Public Economy Ministry said it had signed a
letter of intent with two Italian companies to develop an industrial park
near the western port of Durres. ``The Durres Industrial Park will be
created on 22 hectares in a suburb of Durres and will cost $50 million to
develop,'' the ministry said in a statement faxed to Reuters. Italy's
Finest SpA and Buildex SpA have won a tender invited by the European Bank
for Reconstruction and Development (EBRD), which financed the feasibility
study. ``EBRD's feasibility study stipulates that the Italian companies, as
developers, will build the infrastructure and buildings for industrial
activities and services,'' it added. An EBRD official in Tirana said the
London-based bank might consider financing part of the project.
[07] Albania Metals See Investment Boost
LONDON, Dec 17 - Albania is set to increase the role of metals in the
country's economy by ramping up production and embarking on a far-reaching
sell-off of under-utilised copper, ferro-chrome and steel industries,
according to privatisation minister Ylli Bufi. Albania has just announced a
41 million pounds ($67 million) self-financing ferro-chrome deal with the
Anglo-Italian group Kinglor-RDI, comprising Italian-owned, Swiss-based
Kinglor Ltd, and Reconstruction and Development International (RDI). "This
service agreement lays the framework for other agreements to be reached by
Albkrom and also other steps towards privatisation," Bufi said. The
investors will be paid back in metal from a 300 percent increase in
production. The proposal includes plans to increase chrome ore production
to 450,000 tonnes per year from a forecasted 150,000 tonnes this year,
incrementally over a four year period, according to an Albkrome spokesman.
High carbon ferro-chrome production will jump to 160,000 tonnes per year
over the same period from an expected 30,000 tonnes this year. Ferro-chrome
is produced entirely for export. Albania's chrome ore and ferro-chrome
output rose in the second quarter of 1997 to 22,679 tonnes and 9,931 tonnes
respectively compared to 20,862 tonnes and 6,443 tonnes in the first
quarter. Albania's known chromium reserves are estimated at 37 million
tonnes.
[08] Albania Signs Oil, Mineral Contracts
LONDON, Dec 16 - Albania's Prime Minister Fatos Nano said his government
had signed major contracts to develop its oil and mineral resources. During
a visit to London, Albania signed joint venture agreements worth $250
million with Britain's Premier Oil Plc to increase oil production and build
an 18 km (12 mile) pipeline from Patos to the coast. Nano called the deal
``very important'' and ``very symbolic'' for Albania as it embarks on a far-
reaching privatisation programme including telecoms, transport and energy.
Albania's privatisation minister, Ylli Bufi, told Reuters that the
expectation was to produce 47 million tonnes of oil over 19 years, on top
of annual production. Albania already produces 400,000 tonnes per year, he
said. Premier Oil said the contracts had previously been disclosed and that
the signing was a formality. The investment will be paid back within six
years to the participators in the project, state oil and gas company
Albetrol, Premier, German industrial conglomerate Preussag AG the
International Finance Corporation and World Bank, Bufi said. The 47 million
tonnes of oil will be allocated as follows: Albetrol 42.5 percent, Premier
25 percent, Preussag 17.5 percent and the IFC/World Bank 15 percent, he
added. Nano said a $1.5 million fuel and kerosene deal had also been signed
with British Petroleum Plc.
[09] IMF Says Albania Doing Well, More Reforms Needed
TIRANA, Dec 16 - Experts from the International Monetary Fund (IMF) said
they were impressed by Albania's progress and pledged to help Europe's
poorest country boost its economy through vigorous reforms. ``We have been
impressed by the remarkable progress Albania has made following the crisis
earlier this year,'' the IMF team said in a statement at the end of a two-
week mission to Albania. ``The IMF will continue to help Albania,'' it
added.
The IMF said inflation had slowed noticeably, to an average annual rate of
39.8 percent in November, and that confidence in the lek, trading at 148 to
the dollar, had recovered and economic activity was picking up. The
government's target for output to grow by ten percent in 1998 and inflation
to decline by ten percent were ambitious but realistic, the IMF statement
said.
[10] Italy Helps Albania Relaunch Naval Fleet
BISHTI I PALLES, Albania, Dec 15 - Italian Defence Minister Beniamino
Andreatta said his country would help Albania's army maintain peace and
instill trust in the troubled Balkan state. Andreatta promised Italy's
continuing aid to Albania's army at a ceremony to mark the relaunch of
Albania's naval fleet after Rome restored a dozen vessels and said it would
assist with the rebuilding of a base in the south. ``We are interested that
no country should prevail over another in the Balkan peninsula so that
countries in this penninsula find peace and reciprocal trust,'' he said.
Robert Bali, commander of Albania's navy fleet, said that out of its
original total of 92 vessels 23 had sunk and 33 had sailed to Italy with
refugees aboard.
[11] Albanian Privatisation Drive Targets Foreign Cash
LONDON, Dec 15 - Albania's Socialist-led government set out its stall for
foreign investors to participate in a wide-ranging privatisation programme.
Privatisation Minister Ylli Bufi said he hoped to find strategic investors
for industries from telecommunications to mining in 1998, and would also
offer exploration concessions and management contracts. ``Within the first
half of next year we will have the full legal framework in place for the
privatisation of Albanian companies,'' he told businessmen during a visit
to London. Parliament would approve the privatisation strategy this month,
after which all remaining state-owned enterprises of economic importance
would be transformed into joint-stock companies. Majority stakes would be
offered for sale by international tender from the second half of next year,
although in some cases government would keep a controlling ``golden
share.'' ``The steps we are taking aim at the quick development of the
private sector,'' Bufi said. Only around a fifth of the economy has so far
been privatised.
[12] NEBEX Signs Deal with Albbaker Co.
CALGARY, Dec. 11 - NEBEX RESOURCES LTD. ("NBX" - TSE) announced that it has
signed the definitive agreement with Albbaker Corporation of Albania
relating to the evaluation and development of the Munelle base metal
deposit in north central Albania. The definitive agreement contemplates the
objective of evaluating the economic feasibility of the Munelle deposit and
if the feasibility study concludes that the Munelle deposit can be mined
profitably, then Nebex will proceed under its mining exploitation
concession to develop the Munelle deposit. The definitive agreement
requires the Minister of Public Economy and Privatization to issue the
exploitation concession. The Munelle is the largest known undeveloped base
metal deposit in Albania with estimated reserves of approximately 10
million tonnes with an estimated grade of 1.38 percent copper. Precious
metals and zinc are also present but to date, have not been systematically
quantified. Nebex is currently negotiating with drilling contractors with a
view to begin drilling operations commencing in early 1998.
[13] Albania Receives $10 mln U.S. Grant for Infrastructure
TIRANA, Dec 10 - The United States has granted Albania $10 million to
improve the post-conflict Balkan country's road and railway network, an
Albanian government official said.
Sadedin Celiku, deputy minister of Public Affairs and Transport, told
Reuters the first tranche of $2.3 million would be released in the first
quarter of 1998, with the remainder following later in the year. The
official said Tirana was finalising the financing of other projects for the
Albanian leg of the trans-Balkan route, or Corridor 8, which will run from
the port of Durres through to Skopje in Macedonia and on to Burgas in
Bulgaria.
[14] Italian Bank to Loan Albania Chrome Firm $40 mln
TIRANA, Dec 9 - Albania's state-owned chrome producer Albkrom may receive a
$40 million loan from Italy's Banca Nazionale del Lavoro(BNL) <BANIr.MI>
to finance a deal with an Anglo-Italian group, the Economy Ministry said.
Anglo-Italian group Kinglor-RDI, comprising Italian-owned, Swiss-based
Kinglor Ltd, and Reconstruction and Development International (RDI), had
been seeking a loan from BNL to realise the potential of cash-strapped
Albkrom.
"Albkrom Sh.A. and the Anglo-Italian group Kinglor Ltd.-RDI reached an
agreement on Monday which plans to rehabilitate the chrome mines and
industry in Albania," a Public Economy Ministry statement said. Albkrom has
been searching for a foreign strategic partner to revive its lucrative but
ailing chrome industry for five years. Talks with two German and one
British-American group have failed in the past. "The agreement, based on a
finance project drafted by Kinglor Ltd-RDI and financed by a possible $40
million credit from BNL, will make the chrome industry efficient," the
statement added. A Public Economy ministry official said Albkrom and BNL
hoped to define the terms of the loan in January and said it could be
issued in around three months. It said the Kinglor Ltd-RDI group were well-
known producers of equipment in the chrome industry. Albania's known
chromium reserves are estimated at 37 million tonnes.
This material was reprinted with permission of AlbAmerica Trade and
Consulting International (ATCI). For more information on ATCI and the
Albanian Times, please write to AlbaTimes@aol.com.
Copyright © ATCI, 1998
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