TRIESTE – Fincantieri and Kayo have launched a partnership to create a joint venture for military shipbuilding in Albania.
At the intergovernmental summit between Italy and Albania, held in Rome with the participation of Giorgia Meloni and Edi Rama, Fincantieri and the Albanian company Kayo signed a Memorandum of Understanding to develop a joint venture in the naval sector. The agreement was signed by Pierroberto Folgiero for Fincantieri and Ardi Veliu for Kayo.
The new company will act as prime contractor for construction and maintenance orders intended for the Albanian market. For projects targeting foreign clients, it will be able to build vessels up to 80 metres in length and 800 tonnes in displacement. In these cases, Fincantieri will retain the role of prime contractor, while the JV will handle construction.
Kayo will make available the Pashaliman shipyard in Vlorë and invest in its expansion. Fincantieri will oversee the modernisation of the production process through training, operational support and engineering expertise. It will also supply the necessary material packages, reinforcing its technological role in the partnership.
«Today’s agreement marks an important new step in the cooperation between Italy and Albania. By combining our expertise and resources, we are launching a project that strengthens the military naval supply chain, supports economic and infrastructural development, and opens new prospects for international growth. It is the concrete demonstration» said Pierroberto Folgiero, CEO and General Manager of Fincantieri, «of how the synergy between companies and countries can generate value, security and a shared future».
