TAP to Invest €450mln in Albania during 2017

TAP to Invest €450mln in Albania during 2017

TIRANA, January 24

The Trans Adriatic Pipeline (TAP) project is expected to have a major impact on the Albanian economy during this year. This is related to the fact that the most important part of the project will be constructed during 2017. International financial institutions and Albanian experts say that TAP is one of the main elements that increased foreign direct investments to the country.
Monitor magazine reported on Tuesday that the value of TAP investments during 2017 will be Euro400-450 million. This is considered to be the highest amount for the construction stage. On the other hand, this is equal to half of the total annual foreign direct investments to Albania. FDI during 2015 were Euro 871 million while during January-September 2016 they reached up to Euro 710 million.
The expected works during this year include the construction of the compressor station in Fier area, as well as the start of work in the eastern sector in Korca area where the pipeline reaches the highest altitude above the sea level at 1,800 meters.
Moreover, some 120km of roads will be built in southern remotest areas and other projects with social impact will be implemented.
The total value of TAP investment in Albania is estimated Euro 1.5 billion while the entire project will cost Euro 6.2 billion. The initial capacity of the pipeline will be about 10 billion cubic metres (350 billion cubic feet) of natural gas per year, and the first deliveries to Europe will follow approximately in early 2020.

News Source: Monitor

Photo Credit: TAP

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