Fincantieri and Kayo, a company based in Tirana, Albania, signed a Memorandum of Understanding (MoU) on April 8, 2025, in Durres, aimed at establishing a strategic collaboration to promote the development of the shipbuilding and naval industry in Albania, according to the company’s release.
MoU to develop shipbuilding industry in Albania
The MoU outlines plans to jointly explore opportunities for the creation and management of naval and shipbuilding infrastructures, the construction and maintenance of vessels, and the implementation of technical and professional training initiatives. The objective is to establish an industrial ecosystem to support Albania’s naval defense needs and contribute to the economic growth of the region.
The initiative aligns with efforts to strengthen industrial relations between Italy and Albania and reflects Fincantieri’s focus on enhancing the production capacities of its international partners. Fincantieri will provide its expertise to assist Kayo in developing projects that adhere to technological and environmental standards.
Albania’s strategic location in the Mediterranean and its increasing emphasis on the maritime sector position it as a key partner for Fincantieri in pursuing long-term cooperation. The MoU also includes the potential for both companies to collaborate on establishing a regional hub for shipbuilding and refitting.
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Source: Fincantieri
