The joint venture between Fincantieri and Kayo is a significant step in the development of industrial and strategic cooperation between Italy and Albania

Half a year after the previous step, Fincantieri has observed Kayo, a company that specializes in strategic industrial infrastructure control, as designated by the Albanian Ministry of Defence, signing an agreement for a joint venture that will be active in the construction and maintenance of naval units in Albania.

The agreement was signed in Tirana in the presence of the Albanian Prime Minister, Edi Rama, and the Albanian Defence Minister, Ermal Nufi, as well as Pierroberto Folgiero, Fincantieri's CEO and General Manager, and Ardi Veliu, Kayo's CEO. Also present was Eugenio Santagata, the General Director of Fincantieri's Military Navi Division.

A strategic industrial collaboration

The accord signifies the fruition of a meticulously planned odyssey, consummated by the endorsement of the Memorandum of Understanding in 2025, which was devised to ascertain the worth and delineate a strategic industrial collaboration following the Parti. The joint venture will be 51% owned by Fincantieri and 49% by Kayo. Its main objective will be the construction and maintenance of naval units for the Albanian Navy, with no commercial opportunities in the international market.

In the Albanian domestic market, 

In the Albanian domestic market, the joint venture (JV) will operate as the prime contractor for the naval programme, assuming responsibility for executing and managing the equipment. To protect the export market, Fincantieri will retain the role of prime contractor for naval units below 80 metres in length, designating the Pashaliman (Pns) shipyard as the preferred production site.

The revitalized and modernized Pons Cantiere. 

The Pons cantiere, located in the Walloon press, is to be revitalized and modernized as part of the initiative. The new industrial real estate will enable Albania to provide advanced and efficient quarrying infrastructure to support the Defence's needs, while benefiting the contemporary commercial network and technological expertise of Fincantieri, with an international outlook. The initiative's industrial planning sets a target of around 10 units to be acquired between 2026 and 2030 as part of the Industrial Plan. This is in line with the relevant command attention in the small-to-medium-sized coastal surveillance vessels sector.

Related : Fincantieri launches the next-generation offshore patrol vessel, Ugolino Vivaldi.

The development of industrial and strategic cooperation

The following has been said by Pierroberto Folgiero, Amministratore Delegato e Direttore Generale di Fincantieri: 'The joint venture between Fincantieri and Kayo is a significant step in the development of industrial and strategic cooperation between Italy and Albania, and confirms the strength of a partnership based on shared interests and a long-term vision. For Fincantieri, the initiative is a strategic investment in creating a productive hub in Albania, intended to sustain the operational capacity of the Albanian Navy and encourage industrial and commercial development of the joint venture in international markets.”.

The incorporation of the JV is subject to customary closing conditions. 

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