During the Italy–Albania intergovernmental summit in Rome, chaired by Italian Prime Minister Giorgia Meloni and Albanian Prime Minister Edi Rama, Fincantieri and KAYO signed a Memorandum of Understanding to create a joint venture for the construction and maintenance of naval vessels in Albania, Fincantieri said in a press release.
Under the agreement, the joint venture will act as prime contractor for shipbuilding and maintenance contracts in the Albanian market. For export-oriented projects, it will be able to build vessels up to 80 meters in length and 800 tons in displacement; in these cases, Fincantieri will assume the role of prime contractor, assigning construction to the joint venture.
KAYO will provide the Pashaliman shipyard in Vlora and invest in upgrading its infrastructure, while Fincantieri will support modernization of production processes and supply operational expertise, training, engineering capabilities, and material packages.
Fincantieri is an Italian shipbuilding group operating as a global contractor across commercial, military, and specialized vessel segments. It is organized as a multinational industrial entity under Italian law, with shipyards and engineering centers in multiple countries.
KAYO is an Albanian company formally operating in the field of strategic industrial infrastructure development. It functions within Albania’s industrial sector as a private enterprise focused on investment and project execution in facilities tied to national strategic capabilities.
