Albpetrol, government evaluates second bid
08/02/2013 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
The Ministry of Economy broke the silence regarding the Albpetrol
privatization. After failing with the 850 million EUR bid offered by
Vetro Energy, the Minister of Economy, Edmond Haxhinasto, declared that
the negotiating group has started the process to evaluate the second
offer.
This is a 297 million EUR offer, almost three times less than the first offer, and it was given by the Win Business Energy.
“The Council of Ministers decided to consider the first offer as invalid. This decision authorizes the negotiating group to continue evaluating the other bids, as the law requires”, Haxhinasto declared.
The Albpetrol privatization process was interrupted after the winning company, Vetro Energy, failed to give the 20% guarantee as the law requires. The Albanian state has not even received the 10% guarantee, or 85 million EUR.
“We have started the legal procedures for the bid that was offered by the company”, Haxhinasto declared.
Although the existence of the guarantee was put in question by the opposition, the government declared that it was verified by the consultant company, Patton Boggs.
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