Fincantieri has further strengthened its ties with KAYO, Albanian company established in 2024 and wholly owned of the Ministry of Defence, by signing an agreement to establish a joint venture active in the construction and construction maintenance of naval units in Albania. The Italian company specified that the agreement represents the evolution of a path started with the signing of the two Memorandums of Understanding signed last year and aimed at evaluating and defining a Strategic industrial collaboration between the parties ( of 9 April and 14 November 2025).

The joint venture will be 51% owned by Fincantieri and 49% by KAYO and will have as its main objective the construction and maintenance of naval units intended for the Albanian Navy, as well as seizing opportunities commercial in the international market. In the Albanian market, the new company will operate as prime contractor for the naval programs, assuming responsibility for the execution of the and supply management. As for the market Fincantieri will maintain its role as prime contractor for naval units of less than 80 metres in length, identifying the preferred production site in the Pashaliman (PNS), which is located near Vlora.

The industrial planning of the initiative includes about Ten units as acquisition targets over the plan period industrial 2026-2030, benefiting from the significant demand expected in the small and medium-sized coastal surveillance vessel sector size (OPV).

"For Fincantieri - commented the CEO and general manager of the Italian company, Pierroberto Folgiero - The initiative is a strategic investment aimed at creation of a production hub in Albania, intended to support the operational capabilities of the Albanian Navy and to promote a industrial and commercial projection of the joint venture on the markets international associations. The agreement also helps to affirm the role of the of Fincantieri and Italy as key industrial players in the Mediterranean".