Memorandum of Understanding between KAYO SH. A and Fincantieri Spa

On April 8, 2025, a Memorandum of Understanding was signed between KAYO SH.A, an Albanian public company focused on the production, assembly, repair, and trade of weapons, ammunition, military equipment, and technology, and Fincantieri S.p.A, a global leader with a long history and expertise in the design and construction of military ships.

This Memorandum aims to develop the Maritime Industry in Albania, including the construction of military and civilian ships, as well as strengthening production capacities at the Pashaliman Naval Base. The Agreement was signed by representatives of both companies, Mr. Ardi Veliu, CEO of KAYO SH.A, and Mr. Andrea Viero, representative of Fincantieri S.p.A, in the presence of the Prime Minister of Albania, Edi Rama, the Minister of Defense of Italy, Mr. Guido Crosetto, and the Minister of Defense of Albania, Mr. Pirro Vengu. The signing of this Memorandum marks the beginning of a new era and is an important step in strengthening industrial ties between the two countries.

The collaboration between KAYO SH.A and Fincantieri S.p.A will focus on enhancing the capabilities of the Albanian Naval Force and enabling the construction of military vessels for third-party clients, as well as civilian maritime vessels for both the national and international markets.

The project is considered an excellent opportunity to further develop and strengthen Albania's Military and Defense Industry, creating employment opportunities, increasing local capacities, and building expertise in the construction of technologically advanced ships.