After 20 years, Albania closes "ghost" state-owned enterprises - On the list, Albbakër, Albkrom, Tobacco-Cigarettes, Superphosphate and "Shares Center"
After more than 20 years of procrastination, the Albanian state is intervening to put an end to a problematic chapter in the public economy: state-owned commercial companies that have remained in the liquidation process for years, without ever actually closing.
With a special draft law, the government envisages the closure and final deregistration of these companies, clearing their balance sheets of historical debts and regaining control over significant state assets that are currently legally blocked.
The list of companies affected by this initiative includes well-known names from former state-owned industries, many of which have entered liquidation since the early 2000s, but never closed down completely. Among them are:
"Albbaker" sh.a.,
"Albkrom" sh.a.,
"Albminiera" jsc,
"Furniture Production" sh.a.,
"Petrol Alba" jsc,
“Duhan-Cigare” jsc,
“Albkontroll” sh.a. (Durrës),
"Superphosphate Kurbin" jsc,
as well as the "Share Registration Center".
These companies have not been carrying out economic activity for years, but have continued to exist as legal entities, mainly due to old debts, unregistered properties and unfinished liquidation processes.
One of the key elements of the draft law is the separation of real obligations from historical debts, which in many cases are time-barred, unjustified or related to entities that no longer exist. The law provides that real obligations are to be settled according to the order set out in the Civil Code, while time-barred debts are to be legally erased, clearing the balance sheets of fictitious charges.
In parallel, all assets of these companies, such as land, factories, warehouses, industrial facilities and mining galleries, will be transferred to a single, newly created state entity, named "Operator of State Companies" jsc. This operator will serve as a centralized administrator of inherited assets and liabilities, guaranteeing legal continuity in relations with creditors and third parties.
The law does not provide for direct privatization or the return of these companies to economic activity. The goal is to finally close an old problem, increase legal certainty, and extract public assets from a legal chaos that has lasted for decades.
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