Albania's Balfin, partners investing in 350 mln euro Vlora Marina project

The construction of the marina alone, expected to be completed by 2025, is worth 45 million euro, Balfin said in a press release.

The Vlora Marina project is an investment of a consortium comprising Balfin Group, Marina di Valona sh.p.k, Marina Projects ltd and Brunes sh.p.k., Balfin told SeeNews in a separate e-mailed statement. Balfin is one of the investors in the residential component of the project with participation of 10%, the group added.

The consortium is building the marina under a 35-year concession contract which obliges the investors to transfer the facility to the Albanian state after the concession ends.

The Balfin Group is active in a number of sectors including real estate, retail, tourism, agriculture, energy, the mineral industry and services across Southeast Europe, as well as in Austria, Switzerland and the Netherlands, according to information posted on its website.

($ = 0.919539 euro)