January 31 (SeeNews) - The government of Albania signed a deal with UAE-based Eagle Hills Real Estate Development to set up a joint company for the implementation of a project worth about 2 billion euro ($2.17 billion) for the transformation of Durres port into a luxury superyacht marina, the government said.
Under the agreement, the Albanian government will hold a 33% stake in the project company, the government said in a press release on Monday.
Albania will hold the shareholding interest through Albanian Seaports Development Company, established by Durres Port Authority for the purposes of the project, according to an earlier statement by the port authority.
The project will cover an area of approximately 450 hectares and is expected to create around 12,000 jobs during the construction phase, the government said.
SeeNews emails to the Albanian government, Eagle Hills and the Durres port authority seeking further information about the agreement and the project, including about its financing, went unanswered by the time this article was published.
($ = 0.9236 euro)