“Made in Albania” equipment for the Armed Forces - Government approves joint venture for the production of motor vehicles
The Council of Ministers has approved the terms of negotiation between the state-owned company "KAYO", sh.a., and a private commercial company, for the creation of a joint stock company, with the aim, among others, of producing or adapting special motor vehicles, for use by the Armed Forces of the Republic of Albania, security and civil emergency structures.
The company "KAYO", sh.a., will have a participation of no less than 45% of the shares in the joint venture that it will create with a private company, according to this decision.
Also, “KAYO”, sh.a., will contribute to the new commercial entity, with real estate, in the amount of no less than 20,000 m2, which will be put to use by the joint venture, without the right to alienate. Likewise, during the negotiation process, it ensures in each case from the entity with which it negotiates at least: an investment value of no less than 15 million euros in the time frame of 3 (three) years; the employment of no less than 150 employees in the time frame of 3 years; the provision of technological lines for the production of armored vehicles, according to the operational needs of the Armed Forces of the Republic of Albania and NATO standards, as well as the provision of a product distribution network, in case of export.
In addition to other provisions, the scope of activity of the commercial company to be established will include the production and trade of military equipment, and equipment for use by security and civil emergency structures. During the negotiations, the administrators of the company to be established are selected with the agreement of the company “KAYO”, but also ensures from the other party that at least 50% of the management board to be established will be appointed by “KAYO”, j.a.
The company "KAYO", sh.a., offers, through the security and safety structures of the Ministry of Defense and Armed Forces of the Republic of Albania, the guarantee of the physical security of the production facilities of military equipment, the technical and commercial data related to these equipment and the provision of any technical information and design of these equipment, in accordance with the legislation regulating their activity.
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