Direct investments in Albanian economy grow due to TAP
Baku, Azerbaijan, June 11
The direct investments in the Albanian economy are growing due to the construction of Trans-Adriatic Pipeline (TAP), Trend reports referring to Albanian Central Bank.
Azerbaijani gas will be supplied from the Shah Deniz Stage II field through TAP to Europe starting from 2020.
According to the Albanian Central Bank, foreign direct investments (FDI) made in the economy increased by 1.6 percent year-on-year. In the first quarter, FDI reached 285.6 million euros ($323.5 million).
The foreign direct investment inflows to Albania increased up to 1.02 billion euros in 2018 compared to 899.9 million euros in 2017. The most active phase of the construction of TAP and necessary infrastructure included access roads and bridges accounted for this period.
According to the Albanian Central Bank, an increase in investments is mainly stipulated by two big energy projects, namely the construction of TAP, intended for the transportation of gas from Azerbaijan to Italy through Albania, and the construction of a hydroelectric power station on the Devoll river.
As of the end of the first quarter 2019, the gas pipeline worth 4.5 billion euros was almost completely constructed in Greece and Albania. The offshore section of the pipeline is being constructed in Albania and Italy.