Within the framework of the Italy-Albania intergovernmental summit, chaired by Italian Prime Minister Giorgia Meloni and Albanian Prime Minister Edi Rama, a Memorandum of Understanding was signed to initiate a strategic joint venture in the naval sector.
The Italian shipbuilding group Fincantieri and the Albanian company Kayo, specialized in strategic industrial infrastructure, formalized the agreement that will lead to the creation of a new entity dedicated to the construction and maintenance of military ships in Albania. The signing took place in the presence of Pierroberto Folgiero, Chief Executive Officer and General Manager of Fincantieri, and Ardi Veliu, Chief Executive Officer of Kayo.
The joint venture will operate as prime contractor for shipbuilding and maintenance contracts intended for the Albanian market.
For international projects, the joint venture will be enabled to build naval units with construction limits of up to 80 meters in length and 800 tons of displacement. In these cases, Fincantieri will assume the role of prime contractor, entrusting the actual construction of the ships to the new entity.
The partnership is based on the complementarity of assets. Kayo will contribute by making the Pashaliman shipyard in Vlora available, investing directly in its infrastructural modernization, while Fincantieri will support the modernization of the production process, providing operational expertise and engineering know-how. It will also supply material packages, specific training, and operational skills, thus consolidating its position as a technological partner.
Pierroberto Folgiero commented on the agreement, describing it as a “new important step in the collaboration between Italy and Albania.” He added that the project “strengthens the military naval supply chain, promotes economic and infrastructural development, and opens new prospects for international growth,” representing a “concrete demonstration of how synergy between companies and countries can generate value, security, and future.”
