| Business Profile
About PIA La Petrolifera Italo Albanese Sh.A. (“PIA”) is a company organized and now existing under the laws of Albania with registered office in Tirana, Albania, Perlat Rexhepi Street, 11 story building, second floor, Apartment 23 (across from the former Directorate of the Guard of the Republic), NIPT K71906007R; 94% of its share capital is owned by La Petrolifera Italo Rumena (“PIR”), a company registered under the laws of Italy, while SIMEST, The Italian Financial Institution for the development and promotion of Italian business abroad controlled by the Ministry of Foreign Trade, holds a 6% stake in the Company.
PIA has been granted by the Government of the Albanian Republic two Concessions approved by Law 9213 dated May 13, 2004 by the Parliament of Albania to build and operate a terminal in the Bay of Vlore for the storage and related loading/unloading of oil products and other products and its related port infrastructure. The above mentioned Concessions and Law grant the Operator a right of “Sole Operator” in the Vlora Bay for liquid products’ terminal services.
PIA has started the construction of the Terminal on August 7, 2007 and has completed it (as a first phase of construction) in the first half of 2009, starting operations at the end of June, 2009. PIA Terminal has been realized in an area of about 18 hectares plus reclamations, and is located on the Adriatic coast 4 km north of the Port of Vlore in front of a former PVC and Soda plant no longer in use since 1992.
As provided for in the Concession Agreements, the construction of the overall storage capacity shall be in phases depending on medium-long term trend of oil products consumptions in Albania. The Marine infrastructure, which now has a water depth of 10,00 meter has been designed to be further dredged to reach 12,50m. Present max dimensions of the ships allowed to operate at PIA terminal are: LOA 190 metres max, Ships Draft 8.50 metres max. PIA has already built during the first phase of construction works: ·
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No. 6 tanks for Cat. 2 products (TK 001÷006) with a net storage capacity of each 5,000 m3 for a total diesel oil storage capacity of 30,000 m3, now used for diesel oil;
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No. 4 tanks for Cat. 1 products (TK 011÷014) with a net storage capacity of each 3,000 m3 for a total storage capacity of 12,000 m3, now used for gasoline and jet fuel;
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An overall storage capacity of 4,000 m3 made up of No. 2 spherical vessels (V 001÷002) with anet storage capacity of each 2,000 m3 now used for LPG.
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No. 3 tanks for Cat. 1 products, with a single net storage capacity respectively of 13,000 m3 (TK 020), 10,000 m3 (TK 021) and 3,000 m3 (TK 022), now used for crude oil.
Both tanks and spheres are provided with the instrumentation and safety devices deemed to be necessary for a smooth and safe plant operations management. PIA operates as a Free Warehouse, under articles 183 and ff. of the Custom Code (authorization no. 14181 dated 16/12/2009) and therefore can store products in bond (without paying any duty or excise) for the purpose of temporary storage, import or re export.
PIA terminal fills a lack of infrastructures and allows Customers to supply both the Albanian market and the neighboring Countries through the European Corridor VIII (rail plus road) also taking advantage of the favorable location of the Bay of Vlora, located at the entrance of the Adriatic Sea and very close to the main Italian and Greek refineries (distances from Vlora in nautical miles: 125 to Taranto, 275 to Falconara, 290 to Augusta / Priolo / Milazzo, 340 to Gela, 480 to Corinth, 570 to Sarroch).
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