Nathan Associates conducted an economic, financial, and institutional analysis for a deepwater port to be developed north of the existing port and city of Vlora. The port would serve an energy industrial park and a 135 MW thermal power plant. We prepared a forecast of liquid bulk cargo volumes that could be attracted to the port if investments were made in the energy industrial park, such as for power plant expansion, construction of a petroleum refinery, development of a trans-European crude oil pipeline, and imports of liquid-bulk petroleum and chemical products.

We also reviewed the potential growth of passenger traffic at the existing port due to increased cruise and ferry vessel arrivals. We then prepared a financial analysis that included alternative forecasts for revenues, operating costs, and equity and debt financing schemes. Financing schemes included assessments of BOT potential and public-private partnerships.

Finally, we recommended an institutional structure and organization for the new port consistent with the preferred public-private funding option.

By late 2008, the Swiss firm Zumax was in talks with the government to develop the port under a 35-year concession and bring in an international port operator to manage the facility. It would be the country’s first private port operation.

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