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Italy and Albania sign 2 billion euros worth of energy deals

Sahil Nagpal 3 December 2008

Italy Tirana - Italy on Tuesday signed deals worth more than 2 billion euros (2.52 billion dollars) for two power plants in energy-starved Albania.

Contracts for a thermal power plant near the southern city of Fieri for 1 billion euros and wind-powered generators for 1.15 billion euros at Vlora were signed during a visit by Italian Prime Minister Silvio Berlusconi.

The power generation facilities are expected to help Albania overcome a chronic shortage of electricity, which al leads to blackouts and brownouts with the arrival of winter.

Italian and Albanian business partners also agreed investments in a new cement factory for 160 million euros and the construction of a road for 33 million euros. (dpa)

Regions:

Italy

Tirana

Albania