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Kosovo: Few Bids for Grand Hotel, Winery and Peja Brewery


Prishtinë, Jan 17, 2006 - The privatization of the largest Socially Owned Enterprises in Kosovo (SOEs) Grand Hotel, Peja Brewery, Rahoveci Winery, for which large competition was expected, seems to have failed. KTA has postponed the deadline for pre-qualification and bid opening for the Peja Brewery, Grand Hotel and Iliria Hotel to February, due to a lack of bids for these enterprises.

Ahmet Shala, KTA Deputy Director, said that the postponement has occurred because of few bids submitted for the pre-qualification deadline.

Although many foreign investors have visited the Grand Hotel during the last months, only the company Euro Drini from Tirana did bid finally, in co financing with the management of the hotel. In the meantime, there were less than three bidders for the two other enterprises. KTA officials said that the sale of these enterprises has not failed. “We have had investors interested in the companies. Pre-qualified bidders have requested more time because of the end of year holidays, the time was short”, said the Chief of the KTA Information Office, Renate Schmidt. She also stated that the bid opening the enterprises to be sold through special spin-off would be postponed for one month. “On February 15 we will have the first bidding round, while on 22nd the second round”, said Schmidt.

The Director of the Grand Hotel and the Catering Company “Kosova” Zeke Ceku, said that he did not expect only one company to bid after all those parties interested. “We expected at least four companies to bid”, said Ceku. One day earlier he told Koha Ditore that many companies were interested, including Factor Bank from Slovenia, and World of Wonders from Turkey.


Dugolli accuses KTA of ailing in investment promotion

The reactions of Minister of Trade and Industry Bujar Dugolli came after the failure of the pre-qualification phase for the privatization of the hotels “Grand” and Iliria.”

“I consider that the KTA management should carry out a more intensive campaign as far as the promotion and idcitement of investments is concerned, especially for the foreign investments in Kosovo,“ said Dugolli.

The terms for the pre-qualification were € 3 millions within a year for “Grand, € 1 million for “Iliria”. Only three companies were interested in the privatization of these hotels. Minister Dugolli claimed that attracting investors is the responsibility of the Investments Promotion Agency, which operates in the frame of MTI.

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Background information for foreign investors

Kosovo: General Information
Kosovo: Key economic indicators / statistics
Why do business in Kosovo?
Legal Framework in Kosovo
KTA and Privatisation in Kosovo



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