TAP, 1 billion USD of investments in Albania

Albania will receive 1 billion USD in investments for the next three years through the construction of the Trans Adriatic Pipeline. The leaders of the Azerbaijani state-owned gas company, one of the main shareholders of this project, say that the works in Albania will start in the next year with the construction of roads. Most of these investments will be realized during 2016-2017. 

Top Channel interviewed Ibrahim Idarov, the Director of the gas pipeline for Greece and Albania, who says that the strategy of their company is that most of the works should be contracted by Albanian companies.

TCH: We are talking about a big project, which has often been considered as an investment that could bring changes in the economy of Albania. The total cost of TAP is expected at 40 billion USD. How much of this fund will be used in Albania?

Idarov: We believe that the direct total investment in Albania will be 1 billion USD. Our strategy and desire is to engage the more Albanian companies we can, and we understand the expectancies of your government in this. However, the local companies might have some limitations regarding some works, mostly related to the high technology that is required. But for other works that do not require complex technology, our strategy will be hiring local companies.

TCH: You have declared that everything is ready in Albania. You have received the permits from the authorities. Have you started working on terrain and when will these investments be realized?

Idarov: TAP has a construction program, according to which the works in Italy, Greece and Albania will start in the next year. The first part of the works is related to the supportive roads of the project. The tender is almost closing and soon we will close the agreements with the winning companies. The investments will come in the next year, while most of the 1 billion is planned to be spent in 2016 and 2017.

TCH: What benefits has the Albanian government from this?

Idarov: The biggest profit is that Albania will become member of a pan-European project. Albania turns into an active payer through a strategic and very important work with Europe. This is one of the key elements. Certainly, the construction of the project will have other important profits for the economy and the Albanian citizens. There will be new jobs, new agreements for the Albanian businesses and your companies will receive knowledge from the technology by being part of such giant projects.

TCH: When will the project be complete? When will Europe receive the first gas from TAP?

Idarov: We believe that the first Azerbaijani gas will reach Europe by 2020. We are working for Albania to benefit from this gas. We signed a cooperation memorandum with your government. The core f this memorandum is that Albania shouldn’t be just a transit gas country, but it should be able to use it.