An agreement was signed between Albania and Italy for the production and export of marine vessels. The agreement was signed between the Albanian state company Kayo and the Italian state company Fincantieri in the capital Tirana. Albanian Prime Minister Edi Rama, Minister of Defense Ermal Nufi, Fincantieri CEO Pierroberto Folgiero and other officials attended the signing ceremony. In his speech here, Rama described the agreement as “an important moment for the future of the country’s security and economy.” Emphasizing that this initiative will bring excellence in the shipyard sector, innovation and advanced technology to the country with Italian-Albanian cooperation, Rama said, “This agreement aims for a clear will and vision for something new, special and unique that will accompany this change.” he said.
Nufi also pointed out that this cooperation adds numerous strategic values to the country and said, “The strategic values obtained from this cooperation are quite high. Albania is becoming the new European base of ‘Fincantieri’ for small and medium-sized ships. ‘Fincantieri’ is expanding its production capacity in Albania and ‘Kayo’ is positioning itself as a reliable industrial partner with an international architecture.” he said.
According to the Albanian government, the project envisages the establishment of a new shipyard in the Paşalimanı region of the city of Vlorë in the south of the country, and it is expected to employ approximately 400 people. The cost of the investment is planned to reach up to 1.2 billion euros. Kayo stands out as a state company operating in the defense and security sector, providing products and services to the Albanian Armed Forces and international markets.
Source: AA
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