Italian shipbuilding group Fincantieri has signed a joint venture agreement with Albanian defence firm KAYO to establish a naval shipbuilding and maintenance platform in Albania. The structure gives the Italian group a 51% controlling stake, with KAYO holding 49%, formalising a partnership initiated through two memoranda of understanding in 2025.
The joint venture will deliver vessels for the Albanian Navy and pursue export work. It will act as prime contractor on domestic naval programmes, taking full responsibility for execution and supply chains. For export projects involving units below 80 metres, Fincantieri will retain prime contractor status, with production centred at the Pashaliman shipyard near Vlora.
The project anchors the modernization of the Pashaliman yard into a production hub, extending Albania's naval industrial base and linking it to Fincantieri's technology and commercial reach in international markets. The 2026-2030 industrial plan targets around 10 unit deliveries.
The agreement sits at the intersection of NATO member Albania's strategy to strengthen its Adriatic naval capability and Italy's drive to deepen industrial partnerships across the Mediterranean basin.
Key Takeaways:
1. Fincantieri and KAYO have set up a JV for naval shipbuilding and maintenance in Albania.
2. The Italian group holds 51% and KAYO 49%, formalising 2025 memoranda of understanding.
3. The JV will deliver vessels to the Albanian Navy and pursue export contracts.
4. Fincantieri retains prime contractor status on export units under 80 metres, built at Pashaliman.
5. The 2026-2030 industrial plan targets around 10 vessel deliveries from the platform.
