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Story summary
- Fincantieri and Albanian firm KAYO signed a joint venture in Tirana to build and maintain small and medium naval vessels at Pashaliman, making Albania a new European production hub.
- The venture will create a construction site at Pashaliman and employ about 400 workers.
- KAYO, owned by the Albanian Defence Ministry, will hold 49 % while Fincantieri holds 51 %; financial terms were not disclosed.
