New container port to be built in Albania

Albania awarded a 35-year concession to the British-Swiss Zumax AG group Wednesday for a euro1.18 billion ($1.55 billion) container terminal for ships in southwestern Albania. The Transport Ministry said St. Gallen, Switzerland-based Zumax AG will build the terminal at the Vlora port, 85 miles (140 kilometers) southwest of capital, Tirana, with a three-million container annual capacity.

Its construction is expected to start in April or May this year and to be completed in four years, according to Kevin Paja, the group's representative in Tirana. The group also has asked the government to create a free-trade zone where the terminal is to be located and to build an airport in the Vlora area. The group expects more than 4,000 companies to exploit the container terminal in a free-trade zone.