Revitalization of the Military Industry, government approves decree, allocating 440 million ALL for the first phase of the project

Published: Wednesday, 04 September 2024 12:34

 

A government decree channels 440 million ALL into the initial phase of the project aimed at revitalizing the Military Industry.

Specifically, 290 million ALL have been allocated to clear outstanding obligations of military industry factories, including payments owed to employees, former employees, municipalities, and other entities.

Additionally, 150 million ALL have been dedicated to the creation of the commercial company "KAYO sh.a," which will lead the modernization of the Military Industry and the revitalization of production capacities in Mjekës, Gramsh, and Poliçan.

The revitalization of the Military Industry presents a fresh opportunity for the economic and social development of the regions involved, while also being key to the country's integration into global production and logistics networks.

Furthermore, the Albanian government’s modernization initiative strengthens the nation’s Defense and Security capabilities, aligning with the goals of the Alliance.