TIRANA, Aug. 5 /ATA/ – Albania and Italy have taken a new step in their strategic industrial cooperation with the establishment of Fincantieri Albania, a joint venture aimed at developing Albania’s maritime industry and expanding domestic shipbuilding capabilities.
The company was formally established on Wednesday in Genoa through the signing of its founding act and statutes at the Naval Vessels Division of Fincantieri, one of Europe’s leading shipbuilding groups.
Defence Minister Ermal Nufi said the partnership represents a significant investment in the development of Albania’s maritime sector, promoting technology transfer, job creation and the expansion of the country’s industrial production capacity.
“This partnership represents an important investment in the development of Albania’s maritime industry, the transfer of technology, the creation of new jobs and the strengthening of domestic production capabilities,” Nufi said in a statement.
He added that Albania remains committed to building long-term partnerships with international industry leaders, generating added value for the economy while contributing to national security.
Under the agreement, Fincantieri Albania will manage the Pashaliman shipyard following its modernization and oversee the construction of vessels up to 82 metres in length and with a displacement of up to 700 tonnes.
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