For the first time, Albania is producing military vessels - What will KAYO's agreements with the two private companies specifically include?
The Albanian state-owned company, KAYO, responsible for the production and trade of weapons, is collaborating with two other private companies to build military and civilian motorized floating vehicles, as well as drones. This is the first time that Albania is involved in the production, assembly and repair of floating vehicles, which will be in the service of the Armed Forces, other security structures and civilians.
But what will these agreements specifically include?
Initially, in the case of drone production, KAYO will have no less than 25% of the shares when the joint venture with the private company is established.
As in any other collaboration with private companies, KAYO will only provide movable or immovable assets. For the production of drones, KAYO will contribute immovable assets, in the amount of no less than 1,000 square meters, while the private company must offer an investment value of no less than 30 million euros for 3 years, employ no less than 35 employees, provide technological lines for the production of unmanned aerial vehicles and ensure the distribution network of products in case of export.
In both cases, the administrator of the joint venture will be selected by KAYO.
In the joint venture to be established for the construction and repair of military and civilian motor vessels, KAYO will have no less than 40% of the shares. The movable and immovable assets located in the Pashaliman shipyard will be made available, as in the agreement between KAYO and Fincantieri for the production of military ships.
The private entity will transfer technical knowledge, as well as operational practices and internal procedures, related to the construction and repair of vessels; projects and contracts; human resources and technical and logistical support; training of Albanian personnel; assistance in adapting teaching curricula related to this activity, as well as ensuring a distribution network for marine motor vessels, in case of export.
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