Parliament Okays 350-meters Tower Investment

Parliament Okays 350-meters Tower Investment

TIRANA, April 14

The Albanian Parliament gave its approval for negotiations with Al Habtoor Investment LLC from Dubai thus paving the way for the construction of a 350 meters high tower in Tirana.
The private investment for Tirana Iconic Tower project has a value of 250 million dollars. However, no details were mentioned about the time when negotiations will start. The tower will be built on the extension of the main boulevard and it will occupy 25,000 square meters.
On its part, the company asked for a tax-exempt status for a period of 15 years. The project caused different reactions by lawmakers and political parties, who say that Albanian and other international businesses have the right to compete for a given project.
Moreover, the Parliament also adopted an additional fund of Euro 35 million for the construction of Tirana-Elbasan highway.
The loan on this project triggered debates among lawmakers regarding the way how road construction is planned in Albania. In many cases, roads coast more than planned due to mistakes.
Minister of Transports Sokol Dervishaj said that Tirana-Elbasan highway lacked a geological survey since the beginning.
“I understand the concerns raised by lawmakers. Measures will be taken in cases of misuse of position. However, the most important thing is that we complete the project,” Dervishaj said.

News Source/Photo Credit: TCh, local media


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