Fincantieri has signed a Memorandum of Understanding (MoU) with KAYO, an Albanian company specializing in strategic industrial infrastructure, to establish a joint venture (JV) for the construction and maintenance of military vessels in
Fincantieri has signed a Memorandum of Understanding (MoU) with KAYO, an Albanian company specializing in strategic industrial infrastructure, to establish a joint venture (JV) for the construction and maintenance of military vessels in Albania.
The signing took place during the Italy–Albania Intergovernmental Summit in Rome, chaired by Italian Prime Minister Giorgia Meloni and Albanian Prime Minister Edi Rama, in the presence of Fincantieri CEO Pierroberto Folgiero and KAYO CEO Ardi Veliu.
Under the agreement, the new joint venture will act as prime contractor for shipbuilding and maintenance projects serving Albania’s naval sector. For international contracts, the JV will be authorized to build vessels up to 80 meters long and 800 tons in displacement, with Fincantieri serving as overall prime contractor while construction is carried out in Albania.
KAYO will contribute the Pashaliman Shipyard in Vlorë, investing in its modernization and expansion. Fincantieri will provide technical expertise, workforce training, and engineering support, as well as material packages, reinforcing its role as a strategic technology partner in the region’s naval industrial growth.
“This agreement marks an important step in the collaboration between Italy and Albania,” said Folgiero. “By combining our strengths, we’re creating a project that strengthens the naval defense supply chain,
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