During the Italy–Albania intergovernmental summit in Rome, Fincantieri and Albanian firm KAYO signed a Memorandum of Understanding to create a naval joint venture. The agreement focuses on building and maintaining naval vessels in Albania.
The signing was attended by Pierroberto Folgiero, CEO of Fincantieri, and Ardi Veliu, CEO of KAYO. The JV will act as prime contractor for domestic shipbuilding and maintenance projects. For export vessels up to 80 meters and 800 tons, Fincantieri will serve as prime contractor, while the JV handles construction.
KAYO will provide the Pashaliman shipyard in Vlora and invest in infrastructure upgrades. Fincantieri will support modernization, offer engineering expertise, training, and material packages.
Pierroberto Folgiero said the agreement strengthens the naval supply chain, fosters economic and infrastructural development, and creates opportunities for international growth. He called it a prime example of synergy between companies and countries generating value and security.
