Government's efforts for the simultaneous development of a modern marine port in Durrës and another for goods in Porto Romano are taking place amid questions about the cost-benefit ratio that the Albanian state will have in the joint investment with Emmar. Meanwhile, it has not been determined yet by whom the investment of 600-800 million euros in Porto Romano will be made.

The Director of the Port of Durres, Pirro Vëngu, explains the technical and legal details of the projects, while port infrastructure experts raise concerns that the transition period may alienate port users. The Ministry of Infrastructure, AIDA, and the port authorities explain the steps of the investment process.

New investments in the Port of Durrës are taking place amid uncertainties about the benefits to the Albanian state from the joint investment in the transformation of the Port of Durrës into a yacht by the company of the United Arab Emirates, Emmar, and at what cost and which will take responsibility for building the new cargo port in Porto Romano that requires a 600-800-million-EUR investment.

The project is being developed in two directions: The first aims at transforming the Port of Durres into a marina only for passengers and yachts; second, the relocation of freight processing services from Durrës to Porto Romano and the construction of a completely new port in the area.

In the Durrës Yacht & Marina project, the investor has undertaken to invest 2 billion euros, while the government will give the land for use. Sources from state institutions said that the project will work with profit sharing, but the sharing formula is still being negotiated.

For the Durrës Yacht & Marina project, several moves have been made. The government gave the project strategic status, after which the Albanian state became a co-shareholder, after 80 hectares of state-owned land were made available to the project.

The Director of the Port of Durres, Pirro Vëngu, said that the participation and benefits of the parties in this project (Albanian state and Symphony Real Estate Development, the company that develops the project) are in the process of negotiation. Vëngu says that several versions are discussed, known in similar collaborations as revenue sharing.

Emirates investors have opened offices in Durrës and are in the process of developing engineering projects that transform the Port of Durrës into an area of ??luxury housing and the construction of a special port for yachts, with an estimated investment of $ 2 billion.

While for the construction of a new Port in Porto Romano is being drafted the detailed project that defines the details on the costs and functionality of the new port.

The Ministry of Infrastructure clarified that a third port will be built in Porto Romano in the north of the bay, in addition to the two current ports, one for the discharge of liquefied gas and the other for fuel. The new port will function more or less like the Port of Durres, where land and regulatory functions will be administered by the state, while port services will be performed by private individuals.

So far, the state authorities, who are dealing with the project, are not able to give the exact value required by the new port nor who will make the investment. According to the director of the Port of Durres, Pirro Vëngu, Porto Romano is no longer seen as a loading and unloading port, but as a logistics port and full functions will be realized through several phases by 2050.

The Ministry of Infrastructure, in a special statement, clarified that the implementation of the two projects will be realized in phases, parallel and extended in time, ensuring the uninterrupted continuity of transport and processing of goods and passengers.

In accordance with the legal provisions in force, the Durrës Port Authority exercises today its competencies as a land owner authority (Land Lord Port) in the Port of Durrës, where the terminal operation service is provided by specialized private companies in the form of concession or operation agreements / maintenance. These competencies will continue to be exercised in Porto Romano, the Ministry further referred.

Port infrastructure experts fear that the transition of services transfer from Durrës to Porto Romano may drive companies using our port services to other ports and Albania may lose competitiveness during this transitional phase and question the technical parameters in the bay of Porto Romano.

However, experts claim that Porto Romano has an advantage over Durres in terms of both surface and depth. In any case, the Port of Durres should be relocated, as in the place where it is currently impossible to expand.

(Source: Monitor)