Tirana, December 1, 2015
After the signing of the Memorandum of Understanding in China, Albania, Montenegro and China Pacific Construction Group have signed a $1, 72 billion agreements for the construction of Albania – Montenegro Highway.
The news was announced by the Chinese company on Thursday, November 26th while the president of China Pacific Construction Group Yan Jiehe declared in a press conference that the project will commence on the second semiannual of 2016. Asked about the financing scheme of this infrastructural project, Jiehe declared that the financing has yet to finalize and that the highway toll will serve as the project’s collateral.
China Pacific Construction Group has been under discussions with the Albanian government for possible investments in the infrastructure sector since the beginning of 2015. On April of this year, a delegation from China Pacific Construction Group visited Albania and held a meeting with the Minister of Transports and Infrastructure Edmond Haxhinasto.
Haxhinasto presented to the company several ambitious projects of Albania in the infrastructure sector such as the Eighth Corridor, the Road of Arbri, ect. At that time, the President of the Chinese company expressed interest to invest in Albania in the infrastructure and tourism sectors, by stressing that Albania has a strategic geographical position and high potential in several sectors.
China Pacific Construction Group is one of the biggest Chinese companies, in terms of annual turnover.
News source/photo credits: ATA