The Albanian government has taken other concrete steps towards developing the domestic defense industry, through the creation of a new joint venture for the production of weapons and military equipment.
The state-owned military production company “KAYO”, in cooperation with the private entity “Timak”, have established the company “Timak Defence”. This company will focus on the production and adaptation of specialized motor vehicles, as well as the integration of weapons systems. Including automatic weapons, artillery systems, anti-drone equipment, active protection systems for vehicles, equipment for urban use and other technologies required by the Armed Forces of the Republic of Albania, security structures, civil emergencies and other clients at home and abroad.
In addition to manufacturing activities, Timak Defence is expected to engage in research and development, as well as joint projects in the defense and security sector. It will manage contracts, grants and tenders at both national and international levels.
Practically, this company will have a monopoly on supplying state institutions such as the army, police, guard and civil emergencies with specialized vehicles. Its activity will take place in the former spare parts factory in the Shkoza area, in the building where the "News 24" television station was previously located.
Although the project is presented as a public-private partnership, the majority of the decision-making power belongs to the private sector. The company "Timak" owns 80% of the shares, while "KAYO" only 20%.
"Timak", the private entity in this collaboration, is owned by Arjeta Puca and Ron Yeffet. The latter is a citizen born in Israel, but who also holds Albanian citizenship. Yeffet is a well-known figure to the Albanian public, due to his close ties to Prime Minister Edi Rama, with whom he is often seen in society.
In the past, Yeffet also attempted to enter the aviation sector, as one of the founders of “Air Albania.” He bought 23% of the shares of the parent company MDN, but withdrew from the project just a month later.
