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Fincantieri, Kayo Launch Albanian Shipyard, Creating 400 Jobs

4/30/2026

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Summary

Story summary

Fincantieri and Kayo signed a joint-venture in Tirana to build a shipyard at Pashaliman naval base.
Fincantieri will hold 51 % and Kayo 49 % of the new company, which the defence ministry controls.
The venture aims to supply the Albanian Navy and export small and medium-size vessels abroad.
The shipyard is projected to create about 400 jobs, leveraging Albania’s NATO membership and Mediterranean location.

History

Historical Context

After Albania secured NATO membership on 1 April 2009—following a decade of partnership steps and a $150 million U.S.–Italy pledge to modernize the Soviet-built Pashaliman base—the country offered the facility to NATO in 2022. Building on that legacy, Italy’s Fincantieri and Albanian firm Kayo have formed a 51/49 joint venture to refurbish the shipyard and create 400 jobs.

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Story summary

Fincantieri and Kayo signed a joint-venture in Tirana to build a shipyard at Pashaliman naval base.
Fincantieri will hold 51 % and Kayo 49 % of the new company, which the defence ministry controls.
The venture aims to supply the Albanian Navy and export small and medium-size vessels abroad.
The shipyard is projected to create about 400 jobs, leveraging Albania’s NATO membership and Mediterranean location.

1 / 2