Fincantieri and Kayo team up to foster naval shipbuilding capabilities in Albania

Italian shipbuilding major Fincantieri has signed a Memorandum of Understanding (MoU) with Albanian company Kayo aimed at establishing a strategic collaboration to promote the development of the shipbuilding and naval industry in the Balkan country.

As disclosed, 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.

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, Fincantieri noted.

This initiative is part of the consolidation of industrial relations between Italy and Albania and confirms Fincantieri’s commitment to contributing to the modernization of the production capacities of international partners. 

According to Fincantieri, Albania, with its strategic position in the Mediterranean and growing attention to enhancing the maritime sector, represents an ideal partner for Fincantieri to activate long-term cooperation initiatives.

In this sense, the Memorandum also provides the possibility for Fincantieri and Kayo to collaborate to create a reference hub for shipbuilding and refitting in the region.