Albanian Port Authority of Durres and Eagle Hills sign a Memorandum of Understanding for the transformation of the Port of Durres
TIRANA (Albania), August 16 (SeeNews) – The Emirati company Eagle Hills Real Estate Development has signed a memorandum of understanding with the Albanian Seaports Development Company, owned by the Port Authority of Durres in Albania, for a project of transformation of the port of Durres, indicated the port authority.
The Memorandum of Understanding determines the terms of cooperation in the preliminary phase of the Durres Yachts and Marina project, which provides for the construction of a marina and residential and service spaces in the port with a total area of 80.9 hectares, the Durres Port Authority said in a statement. Last week.
The port transformation project is valued at 2 billion dollars (1.97 billion euros), local media outlet Exit reported last week.
Eagle Hills and the Albanian Seaports Development Company will implement the project through a yet to be established joint venture, the port authority said, adding that the two parties are currently negotiating the terms of implementation. project work.
The current port infrastructure will remain under state ownership, while maintenance, new investments, expenses and tourist marina services will be the responsibility of Eagle Hills.
The Port Authority of Durres established the Albanian Sea Ports Development Company for the purpose of the project.
($ = 0.9843 euros)