Albania will produce ammunition - Government approves criteria. "KAYO", agreement with private companies for production
The Council of Ministers approved the terms of negotiation of the state-owned company "KAYO", jsc, with private companies for the production and trade of small and medium caliber ammunition.
This decision aims to approve the terms of negotiation of the company "KAYO", sh.a., with a private company with the aim of creating a joint stock company, for the production and trade of small and medium caliber ammunition, registered in the Republic of Albania, in accordance with the legislation in force for commercial companies and under the conditions set out in this decision.
The company "KAYO" will negotiate and accept a participation of no less than 20% of the shares in the joint venture, which it will create with a private company.
Referring to the decision, the company "KAYO" will contribute to the new commercial entity with real estate, in the amount of no less than 20,000 m2, which will be given to the joint company for use and without the right of alienation.
The company "KAYO", sh.a., in any case ensures from the entity with which it negotiates an investment value of no less than 60 million euros over a period of 3 years; the employment of no less than 80 (eighty) employees over a period of 3 (three) years; the provision of technological lines for the production of small and medium caliber ammunition, according to the operational needs of the Armed Forces of the Republic of Albania and other security structures; the provision of a product distribution network, in case of export.
Likewise, the scope of activity of the commercial company to be established will include the production and trade of ammunition for the Armed Forces, as well as ammunition for use by other security structures.
On the other hand, the administrator of the company that will be created by the two aforementioned companies is selected with the agreement of the company "KAYO", sh.a.
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