TIRANA, July 30 – The government approved a project act to close the old shipyard at the Vlora Bay naval base and make the facility available to Fincantieri.
The Italian company will use the site through a joint venture with KAYO. Defense Minister Ermal Nufi said the decision opens the way for developing the naval base and creating new commercial cooperation.
Nufi said Fincantieri, one of the world’s largest shipbuilding companies, will work with KAYO to transform the facility. He added that the partnership will increase Albania’s production and technological capacities.
Meanwhile, the minister said the Vlora Bay naval base will produce vessels up to 82 meters long. The facility will undergo full transformation to meet the requirements for building this type of vessel.
Nufi said the investment will support national security, technological development and job creation. He described the project as an important step for Albania’s maritime industry.
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