Italian shipbuilding deal to create 500 jobs in Albania

Italian shipbuilder Fincantieri has signed a deal in Albania expected to create 500 jobs at Pashaliman, the country’s naval base near Vlora.

The agreement brings together Fincantieri, Albania’s state-owned KAYO company and the Pavaresia Industrial School.

It will train Albanian workers for jobs in shipbuilding and marine industry.

Prime Minister Edi Rama said the jobs would require qualified staff and would be linked to Albania’s defence system.

He said Albania’s military industry was entering a new phase and that defence spending would rise to 2.6% of GDP.

The deal also deepens industrial ties between Albania and Italy.