Albania-Italy, construction of 800-ton military ships/ Agreement revealed/Joint venture in Pashaliman. How will the tasks be divided?
The Albanian state-owned arms manufacturing company, KAYO, and the Italian civil and military naval shipbuilding company, Fincantieri, will create a joint venture in Pashaliman, Vlora, for the construction and maintenance of military naval ships.
At the intergovernmental summit between Italy and Albania, held in Rome and chaired by Italian Prime Minister Giorgia Meloni and Albanian Prime Minister Edi Rama, Fincantieri and KAYO signed a Memorandum of Understanding.
The signing ceremony was attended by Pierroberto Folgiero, CEO of Fincantieri, and Ardi Veliu, CEO of Kayo. The agreement foresees the creation of a joint venture that will be responsible for shipbuilding and maintenance contracts in the Albanian market. For projects destined for export, the venture will be able to build ships up to 80 meters in length and 800 tons of displacement. In these cases, Fincantieri will take over the management of the project as the main contractor, while their construction will be carried out by the joint venture in Albania.
Under the agreement, KAYO will make available the Pashaliman shipyard in Vlora and invest in improving its infrastructure, while Fincantieri will support the modernization of the production process, provide operational expertise, training and engineering knowledge. Fincantieri will also provide material packages, thus consolidating its role as the main technological partner.
Pierroberto Folgiero, CEO and Managing Director of Fincantieri, said that the agreement marks a new fundamental moment in the cooperation between Italy and Albania. By combining the expertise and resources of the two companies, a project is presented that strengthens the naval military supply chain, promotes economic and infrastructural development and opens new perspectives for international growth. It is a tangible example of how synergy between companies and countries can generate value, security and a future, he said.
Germany plans to increase military forces/ Aims to reach 260,000 troops. Mandatory conscription if necessary
The German government announced a plan to increase military forces, including the possibility of introducing partially compulsory military......
Ndryshime në kontratat e energjisë/ Komuniteti i Energjisë: Rregullorja e re rrit besimin e investitorëve dhe ndërton treg konkurrues
Rritje e besimit të investitorëve dhe forcim i rolit të Shqipërisë në ndërtimin e një tregu të energjisë elektrike më konkurrues dhe më të qëndrueshëm”. Këto......
For the 2026 budget, Croatia predicts a deficit of 2.9% - 35.7 billion in revenue. Key priority, investments in the military
The Croatian government approved the draft state budget for next year, which foresees a deficit equal to 2.9% of Gross Domestic Product, the same as in......
"Security, facing an extraordinary challenge" - Prime Minister Rama: Let's build a stronger response among countries
Tirana hosted the Annual Conference of the World Organization of Insurance Supervisors. In his speech, Prime Minister Edi Rama listed the challenges that......
Tax exemptions "cost" 663 million euros - Finance Analysis with IMF/ 67% of the total is accounted for by missing VAT revenues
The Ministry of Finance, assisted by the International Monetary Fund, has conducted an analysis of business tax exemptions in Albania as well as an analysis......
Albania, towards new national maps - ADF, investment of 259 million lek for the digitalization of the territory
The Albanian Development Fund has announced the opening of the competition for the implementation of a project, which aims to modernize the National......
US and Switzerland close to tariff agreement - Focus of talks on reducing Swiss trade surplus
The United States and Switzerland moved closer to a trade deal to reduce the 39% tariffs imposed by President Donald Trump on Swiss imports. The pact......
EU, average wages increased by 5.2% - Which countries topped the European ranking in 2024?
In 2024, the average annual salary for a full-time job reached 39,800 euros, marking an increase of 5.2% from 37,800 euros in 2023, according to Eurostat......
