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The economic expert gives the alarm: the Arab company will be the majority shareholder, here is the market of the Port of Durrës that the government does not tell us
Written by SOT.COM.AL 13 Gusht 2022
The well-known journalist and economic expert, Klodian Tomorri, has drawn the shadows of the scandal surrounding the concession of the Port of Durrës. He showed the bazaar of the Port of Durrës, which the government is not showing to the citizens. From his analysis, the project is expected to cause a lot of damage. The Arab company will receive 70 percent of the net profit, while the government will receive 30 percent. There will be 1.5 million square meters of construction in the Port of Durrës. We assume that the average selling price will be 2200 euros per meter. The company will collect 3.3 billion euros. The stated investment is 2 billion euros, which means that the profit remains 1.3 billion euros. According to the partnership, the Arab company will receive 910 million euros, while the government will receive 390 million euros. But how would the profit be shared if the government entered into an agreement with the Arab company on market terms, so to get 30 percent of the gross area? From the 1.5 million meters of construction area, the government would benefit from 450 thousand meters. With a sale price of 2,200 euros, the government would collect 900 million euros. So three times more, the Arab Company will be the majority shareholder and this means that it will have full control of the expenses. Tomorri writes that the Tourist Port Project in Durrës will destroy the existing cargo port. "The whole project is exempt from taxes. The company may inflate costs to the point of making minimal or zero profit. And the government will get 30 percent of the zero. I mean nothing. This is a very big risk materialized several times in government-private partnerships. The tourist port project in Durrës will destroy the existing cargo port. At the beginning of last month, the project of the Dutch company Royal Haskoning for the new cargo port in Porto Romano became public. Port construction bill? Fully 2 billion euros. These will be paid by the government. The government can get 310 million euros in profit at best from the partnership with the Arab company in Durrës, but it will have to pay 2 billion euros to build the new cargo port in Porto Romano. The people say buy a dog and sell a puppy", concluded Tomorri. but it will have to pay 2 billion euros to build the new cargo port in Porto Romano. The people say buy a dog and sell a puppy", concluded Tomorri. but it will have to pay 2 billion euros to build the new cargo port in Porto Romano. The people say buy a dog and sell a puppy", concluded Tomorri.