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Another matter in Arbitration, after the Germans, the Austrians also sue Albania

2023-04-15 17:37:46Biznes SHKRUAR NGA REDAKSIA VOX
Another matter in Arbitration, after the Germans, the Austrians also sue Albania
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The lawsuits of foreign companies against the Albanian government in Arbitration have not stopped. After the Germans of EMS Shipping & Trading registered a case in Washington, for the dispute regarding the concession for the Port of Durrës, now it is the turn of the Austrians.

Breaking an agreement between an Austrian company and Albania risks leading our country to another confrontation in arbitration.

The company 'Ivicom holding' is asking the Albanian government for 150 million euros in compensation for breaking the agreement for the construction of a power plant in the area of ​​Korça.

The Ministry of Finance last week carried out a transaction worth about 150 million old lek in the account of a Swedish law firm, which will represent Albania in the confrontation with the Austrian company. A payment of 500,000 euros was also made for consultancy related to the dispute.

 

In 2018, the company based in Austria, "Ivicom Holding" presented to the Albanian government the project for the construction of a power plant in the area of ​​Zêmblak, which would use the gas transported by the TAP gas pipeline to produce electricity.

This project, accepted by the Albanian government, aimed to build a power plant with a capacity of 500 megawatts, while around 400 people would be employed. The cost of the investment would reach the value of about 350 million euros.

The investment has not been realized, because the Ministry of Environment has refused to grant the environmental permit.

After this decision, this project was not implemented, which forced the Austrian company to ask the Swedish Arbitration Court for compensation of 150 million euros.

This is not the only lawsuit against the Albanian government in arbitration, as several other companies are also counted, such as the German 'EMS Shipping', the companies "Dondi and Kubota".


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