Fincantieri Partners with Kayo to Propel Albania’s Naval Innovation Forward
Fincantieri and Kayo, a corporation located in Tirana (Albania), have established a Memorandum of Understanding (MoU) aimed at forming a strategic partnership to foster the enhancement of the shipbuilding and maritime industry in the Balkan nation.
The accord was executed yesterday in Durres in the presence of the Italian Minister of Defense, Guido Crosetto, the Prime Minister of Albania, Edi Rama, and the Albanian Minister of Defense, Pirro Vengu. It was signed by Andrea Viero, Senior Vice President Naval Vessels Division Business Support of Fincantieri, alongside Ardi Veliu, CEO of Kayo.
The MoU is designed to collaboratively investigate prospects for creating and overseeing naval and shipbuilding facilities, as well as constructing and maintaining vessels, in addition to implementing technical and professional training programs. The objective is to establish an inventive, sustainable, and high-value industrial ecosystem capable of fulfilling the country’s requirements in naval defense and fostering economic growth in the region.
This initiative forms part of the strengthening of industrial ties between Italy and Albania, affirming Fincantieri’s dedication to aiding in the modernization of production capabilities for international partners. With its multidisciplinary experience and globally esteemed leadership in shipbuilding, Fincantieri will lend its expertise to assist Kayo in developing projects that adhere to the highest technological and environmental criteria.
Albania, strategically positioned in the Mediterranean with increasing focus on advancing the maritime sector, stands as an ideal associate for Fincantieri to initiate long-term collaborative efforts. In this context, the Memorandum also allows Fincantieri and Kayo to work together in establishing a reference hub for shipbuilding and refitting within the region.
The agreement underscores the Group’s capability to collaborate synergistically with local institutional and industrial stakeholders, promoting integrated development approaches with a strong emphasis on skills enhancement, job creation, and technology transfer.
