Albania has launched an international tender for an 85% stake in the state-owned ARMO oil company, the government said Tuesday.
ARMO owns two refineries at Ballsh and Fier, 100 kilometers south of the capital, Tirana. It also owns a research center, 11 depots and a network of gas stations, which according to company figures are valued at a total EUR109 million.
Bidding will open May 21, the Ministry of Economy, Trade and Energy said in a statement.