Fincantieri is to promote shipbuilding and the naval industry in Albania with the signing of a Memorandum of Understanding (MoU) with Kayo, which operates in the defence and security industry.
The MoU aims to jointly explore opportunities for the creation and management of naval and shipbuilding infrastructures, the construction and maintenance of vessels, as well as the implementation of technical and professional training initiatives.
Fincantieri says the goal is to create an innovative, sustainable and high value-added industrial ecosystem capable of supporting the country’s needs in naval defense and stimulating the economic growth of the territory.
Production capacities
This initiative is part of the consolidation of industrial relations between Italy and Albania and is set to contribute to the modernisation of the production capacities of international partners.
Fincantieri will offer its experience to support Kayo in developing projects that it says will meet the highest technological and environmental standards.
The shipbuilder says Albania, with its strategic position in the Mediterranean and growing attention to enhancing the maritime sector, represents an ideal partner for it to activate long-term cooperation initiatives.
The MoU also provides the possibility for Fincantieri and Kayo to collaborate to create a reference hub for shipbuilding and refitting in the region.
The agreement will enable Fincantieri to work with local institutional and industrial players, promote integrated development models with a focus on skills training, employment growth, and technology transfer.
