November 18 (SeeNews) - Albania's power transmission system operator, OST, signed on Friday a 50 million euro ($53 million) loan agreement with German development bank KfW to finance the construction of a 400kV power line to Macedonia, the energy ministry in Tirana said.
Construction works will start in 2017 and are expected to be completed by the end of 2019, the energy ministry said in a statement.
In Albania, the project includes a 56-km aerial line to the border with Macedonia, the expansion of two sub-stations in the cities of Elbasan and Fier and a new aerial line between them. In Macedonia, the high-voltage power line continues to the city of Bitola.
The Albanian part of the project has a total value of 70 million euro. The rest of the costs will be covered by an EU grant of 14 million euro and the state-owned OST.
($=0.9436 euro)