Figures overturn the concession of the Lekaj-Fier road, finances do not justify the “320 million euro” investment

07/12/2022 21:08

The Lekaj – Fier highway in the south of Albania will be given as a concession for 35 years to 8 private entities for the amount of 320 million euros that the companies have declared they will invest, but are they able to get such a loan?

If we look at the balance sheets of the companies that will invest in the road, the one leading is the company ‘Fusha shpk’, which in 2020 and 2019 reported income in the amount of 3 billion ALL, while the company’s profit does not reach more than 150-200

million ALL per year, or about 2 million euros.

Meanwhile, the other company ‘Agbes Construction’ reports total assets of 1.8 billion lek, while profit in the amount of 183 million lek in 2020.

‘Albavia’ the other company in the agreement, reports total assets of 1.6 billion ALL, while its profit in 2020 reached 63.8 million ALL.

The ‘Kupa’ company reports income at the level of 743 million lek in 2020, while the profit for this period is 24 million all, when in 2019 this company resulted with a loss.

Ante Group reports income at the level of 1 billion ALL, while the profit for 2020 was 78 million ALL.

The Klodioda group meanwhile reported income at the level of 46 million all for 2019, while the profit is at the level of 12 million ALL.

The company ‘Altea Geostudio’ reports annual turnover at 181 million ALL, while profit before tax at the level of 11.7 million ALL.

In 2020, “Sphaera” company reported turnover at the level of 22 million all, while the profit was 678 thousand all and has an undistributed profit of 38 million all.

These 8 companies with the income they reported in 2020 do not exceed the level of 8.7 billion all together, or about 70 million euros, while the road needs a financing of 38 billion all or 320 million euros.

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