Calik & Limak promises up to 500 million euros in investments

The privatization of Kosovos power distributor KEDS is a process run by the Government, in accordance with the Assembly decision to perform procedures in a transparent, open and competitive manner, said the Minister of Economic Development, Besim Beqaj.

Beqaj made this comments at the meeting of the Governments Privatization Comittee of KEDS where the Calik & Limak Consortium has introduced its structure and investment plans for the power distribution network.

“Any decision taken on KEDS by the GPC is complete, harmonized by a unanimous vote in the final phase and verified by the Government, which after the announcement of the preferred bidder has decided to proceed and enter negotiations for defining the contract between the GPC and the Calik & Limak Consortium “he said.

He warned that if the Government determines that the contract is not being respected by the investor, the contract will be terminated and the Government will take over the ownership of the enterprise without any financial obligations.

A representative of the Calik & Limak Consortium, Serhan Can presented a profile and work carried out by Calik Holding and Limak and their plans for KEDS in the next 15 years.

Can promised investments in the sum of 500 million euros, 200 million of which will be invested in the actual distribution of energy, reducing annual losses by 3 % and maintaining human resources through advanced training and professional preparation.