Top 10 Businesses ranked based on the value of State Treasury Transactions registered in 2023

Open Data Albania is publishing a list businesses benefiting the most from the State Treasury Transactions during the 12 months of 2023. Exempted from the examination are payments with state institutions as beneficiaries or payments towards second tier banks. Likewise excluded are that category of transactions that comprises a transfer towards a publicly owned company.

During 2023 as much as 282 103 transactions towards budgetary institutions were registered, worth a combined value of ALL 600.96 billion, or over EUR 5.8 billion. In the first place, as the business that has benefited from Treasury transactions of the highest value, comes the Simple Company INTEKAR – ASL. On behalf of this company, in 2023, the State tresury has registered and executed 14 transactions worth a combined ALL 8.27 Billion, approximately EUR 80.3 million. The Simple Intekar Society – Asl is the implementer of “Construction of the Llogara Tunnel”Project. The total value of the Llogara Tunnel construction contract is ALL 17.04 billion, VAT excluded.

Positioned in second place is Kastrati LLC, who has benefited the amount of ALL 4.28 billion, or over EUR 41.5 million through 934 transactions, through the State Treasury. The profits that Kastrati LLC made off the State Budget were made for the supply of fuel and oil and we should emphasize that these are different transactions than those made on behalf of the Group with the same name and owner.

4 A-M ranks thirds with an amount of ALL 3.48 billion profitted off via State Treasury for 2023. This company is consistently contracted in public works by the Albanian authorities. In 2023, the company won 6 bids for public works with the total amount  awarded worth ALL 5.37 billion. You can trace the list of tenders this company has won in its respective passport in the OpenCorporatesAlbania database.

Source: Open Spending Albania
Comments and Analyses: Open Data Albania

The forth place belongs to Gjoka 87, which is the company implementing the concession contract for the Construction and Operation of the Arbri Road. During the 12 months of 2023, a total of 4 transactions worth of ALL 2.84 billion were cashed by Gjoka 87 company.

Fusha LLC is the business that closes the list of the five biggest beneficiaries from the State Treasury for 2023. Last year the company marked profit derived from 132 Treasury transactions worth ALL 2.71 billion. Listed in the company’s passport are a long list of public contracts with the Albanian authorities, as well as shares in four concession companies.

The five economic operators best rewarded from the State Treasury for 2023, collect as much as 63.7% of the total Treasury Transactions value for the 10 biggest beneficiaries, worth a combined ALL 21.59 billion.

Source: Open Spending Albania
Comments and Analyses: Open Data Albania

Table: Ranking of top 10 Businesses with the highest value of State Treasury benedited in 2023, Share against the Total combined value
Source: Open Spending Albania
Comments and Analyses: Open Data Albania

The company ranked in the sixth place is Gjikuria. The company’s passport shows records of a long list of public contracts with central and local government institutions, other than being the as well as the contracting company that is implementing the Concession Contract for the construction of the “Yacht Port – Orikum ByPass – Dukat (Saint Eliza Bridge)” road project. During 2023, this private operator has benefited of 42 Treasury transactions worth ALL 2.69 billion.

Infosoft Systems ranks 7^th on the list of private operators awarded the most sizeable Treasury Transactions during 2023, with ALL 2.53 billion in public contracting profits. The Treasury transactions in favour of the company were carried as payment for the  provision of compiuter system maintenance and investment in software services.  

In the 8^th place stands Trans Adriatic Pipeline AG Albania, which implements the Trans Adriatic Pipeline TAP Project in our country. The company has collected during 2023 two Treasury transactions in the amount of ALL 2.47 billion, for VAT reimbursement.

Ranked in the 9^th in the list is the G. P. G. Company, who has benefited Treasury transactions worth a combined ALL 2.31 billion last year. With a large portfolio of public works in its passport, this company is also a shareholder in two concession contracts in the Energy Sector, for Hydro Works.

The list of the biggest beneficiaries of public contracts in term of value closes with MSSC (Military System Supply Company), ranked 10th. The company has registered and received 32 Treasury transactions in the amount of ALL 2.3 billion during 2023. The payments were performed as compensation towards the company for the completion of armaments and the supply of ammunition.

Source: Open Spending Albania
Comments and Analyses: Open Data Albania

Table: List of 100 Businesses with the highest value of State Treasury transactions benefited in 2023
Source: Open Spending Albania
Comments and Analyses: Open Data Albania

If we reshuffle the ranking placements of these same companies, based on the size of a single Treasury transaction benefited in 2023, in the first place there would be the Trans Adriatic Pipeline AG Albania with ALL 2.25 billion for VAT reimbursement. The second to follow would be the transaction of ALL 1.35 billion on behalf of 4 A-M for the “Construction of the Sheshi Shqiponja-Bulevard i Ri road segment, Lot 2”.

In third place is Treasury transaction compensating Kastrati LLC in the amount of ALL 1.33 billion for he farmers fuel reimbursement. By estimation, the company also enjoys the eighth place based on Transaction value (ALL 817.3 million).

Source: Open Spending Albania
Comments and Analyses: Open Data Albania

Table: List of top 100 Businesses with the highest value of a single State Treasury transaction benefited in 2023
Source: Open Spending Albania
Comments and Analyses: Open Data Albania

The set of data examined in this article have been compiled using information from the Treasury Transactions Database, which contains data on every single payment transaction, executed by budgetary institutions, since 2012, and Open Corporates Albania, in which you’ll find full information on all businesses exercising commercial activity in the Republic of Albania.

Treasury Transactions can be traced by using the search engine, which allows you to search based on the payment, institution or beneficiary. Likewise, a dedicated information passport is available at OpenCorporates.al for all businesses that have been awarded public contracts.  

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Comments and Analyses: Open Data Albania
Contributed by: Pajtim Nikolli and Zoica Murati
Translated by: Rezarta Cushaj