TIRANA, Jan. 18 (Xinhua) -- Albania is to get another loan worth 20 million euros (21.3 million U.S. dollars) from Germany's KfW development bank that will be used to finance a 400 kilovolt (kV) interconnection line between Albania and Macedonia, local media reported Wednesday.
Albanian Parliament has approved the agreement between Albania and Germany for the funding of the power line. This is the second loan agreement signed for this project, following the first loan of 30 million euros.
Official sources said Wednesday that building the interconnection line would start this year and is expected to be completed by 2020.
The line is to start in Fier-Elbasan, central Albania and end in Bitola, Macedonia, sources from the ministry of energy said.
Albanian authorities believe that implementing this project will strengthen Albania's interconnection ties with the region.
This project also includes the construction of new lines and connection with the transmission network, local media reported.
The total value of the Albania-Macedonia interconnection line project is estimated at 70 million euros.
A total of 50 million euros are provided by the German KfW bank, five million euros will be provided by the Albanian government, while the remaining funds will be provided by the European Union (EU). (1 euro = 1.07 U.S. dollars)