Italian giant Fincantieri will produce small and medium-sized ships for the international market in Vlora. The state-owned military industry company, Kayo, signed a cooperation agreement in Tirana with the Italian company, which is currently the largest manufacturer of commercial and military ships in Europe.
"From this cooperation there are several strategic values that are achieved. Albania becomes a new European base of "Fincantier" for small and medium-sized ships. Fincantieri expands its production capacity in Albania and "Kayo" is positioned as a reliable industrial partner with an international architecture. The business model is that over 90% of the clients are international, existing clients of "Fincantier," said the Minister of Defense, Ermal Nufi.
Kayo and Fincantieri will establish a joint venture. The project envisages the creation of a new shipyard in Pashaliman, where around 400 people are expected to be employed.
"This agreement is very good news for young people, for the girls and boys of the Vlora industrial school, who will be the first, who will be contacted and invited to participate in a training journey tailored to be tomorrow and not in a distant future, but in a very near future participants, of this new society of excellence in their territory, that is, in their hometown and they will certainly be accompanied on their training path by Fincantieri professionals and will be educated both in Italy, precisely where Fincantieri has its soul, its base, but also in Albania, in Pashaliman where this second soul, we say, will come to life soon," said Prime Minister Edi Rama.
According to him, Albania will be the first to benefit from the production of this new company, with the construction of the first two ships for the Armed Forces, bringing the total number of the naval fleet to seven, in accordance with NATO standards for the country's role in the Mediterranean.
Ship production is expected to continue for export, targeting international markets and bringing advanced technology and innovation to the Albanian maritime industry.
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