On the occasion of the intergovernmental summit between Italy and Albania held yesterday in Rome, Fincantieri and KAYO, an Albanian company specialized in the development of industrial infrastructures have signed a memorandum of understanding to start a joint venture dedicated to construction and maintenance of military ships in Albania. The agreement provides that the new company acts as prime contractor for construction contracts and ship maintenance for the Albanian market. For projects destined abroad, the joint venture will be able to build up to 80 meters in length and 800 tons in tonnage. At it Fincantieri will assume the role of prime contractor, entrusting the joint venture with the construction of the ships.

Under the partnership, KAYO will provide the Pashaliman shipyard in Vlora and will invest in its infrastructure modernization, while Fincantieri will support the modernization of the production process, offering skills training and engineering know-how. Provide material packages, thus consolidating its role of reference technological partner.