Albania Economia
Agreement to build naval vessels in Pashaliman. JV structured with 51% Fincantieri and 49% KAYO, targeting the Albanian Navy and international export markets.
Fincantieri and KAYO have signed an agreement to establish a joint venture in the naval shipbuilding sector in Albania, focused on the construction and maintenance of vessels for the Albanian Navy and international markets.
The new company will be owned 51% by Fincantieri and 49% by KAYO and will operate at the Pashaliman shipyard, with the aim of developing industrial capabilities in the segment of small and medium-sized naval vessels, particularly Offshore Patrol Vessels (OPVs).
In the domestic market, the joint venture will act as prime contractor for Albanian naval programs. For export activities, Fincantieri will retain its role as prime contractor for vessels under 80 meters in length, targeting international demand in the coastal surveillance segment.
The industrial plan foresees a target of approximately 10 vessels over the 2026–2030 period, in line with expected demand growth in the offshore patrol and coastal security segment.
The agreement is part of the broader industrial cooperation path between Italy and Albania and also aims to modernize the Pashaliman shipyard, which is considered a strategic site for the development of naval shipbuilding in the country.
The project also includes professional training initiatives, involving young Albanian technicians and local industrial institutes, particularly in the Vlora area.
The establishment of the joint venture, according to the official statement, is subject to the fulfillment of customary closing conditions. Fincantieri and KAYO have signed the Joint Venture Agreement for the creation of a company engaged in the construction and maintenance of naval vessels in Albania. The JV will be held 51% by Fincantieri and 49% by KAYO, with the objective of serving both the Albanian Navy and international markets, including an indicative plan of around 10 vessels over the 2026–2030 period and the development of the Pashaliman shipyard.