TIRANA, April 29 – Albanian company Kayo and Italian shipbuilder Fincantieri signed an agreement in Tirana to produce vessels at the Vlora Bay naval base in Albania. The project will serve the Albanian Armed Forces and allied countries.
Prime Minister Edi Rama and Defence Minister Ermal Nufi attended the signing ceremony. The agreement marked a new phase for Kayo, which will begin domestic production of naval vessels in partnership with Fincantieri.
Nufi said the agreement added value for Albania and supported exports. He stated that production would target European demand and expand to international markets.
At the same time, the defence minister highlighted the strategic impact of the partnership. He said Albania would become a new European base for Fincantieri for small and medium-sized vessels. He added that the cooperation strengthened the company’s presence in Albania and positioned Kayo as a reliable industrial partner.
In addition, Nufi said the project would create jobs. He confirmed that more than 400 people would be employed at the new shipyard. He added that the investment would increase domestic production capacity and workforce skills.
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