TRIESTE – Fincantieri and Kayo, the Albanian state-owned company headquartered in Tirana, yesterday signed a Memorandum of Understanding in Durrës to promote the development of the country’s shipbuilding and maritime industry.
The agreement aims to explore opportunities for the development and management of maritime and shipbuilding infrastructure, the construction and maintenance of vessels, as well as the implementation of technical and vocational training programs. The goal is to establish an industrial ecosystem capable of supporting Albania’s naval defense needs and fostering the country’s economic growth.
The memorandum is part of the ongoing strengthening of industrial relations between the two countries, confirming Fincantieri’s commitment to supporting the modernization of its international partners’ production capabilities. Fincantieri will provide its expertise to assist Kayo in developing projects that meet the highest technological and environmental standards.
“Albania, with its strategic location in the Mediterranean and increasing focus on enhancing its maritime sector, is an ideal partner for Fincantieri to launch long-term cooperation initiatives. In this regard, the Memorandum also includes the possibility for Fincantieri and Kayo to jointly establish a regional hub for shipbuilding and refitting activities,” stated the Italian shipbuilding group in a press release.
The agreement was signed in the presence of Italian Defense Minister Guido Crosetto, Albanian Prime Minister Edi Rama, and Albanian Defense Minister Pirro Vengu.
