Fincantieri Expands Shipbuilding Operations to Saudi Arabia

Italian shipbuilder Fincantieri announced the establishment of a new unit, Fincantieri Arabia, to strengthen its collaboration with Saudi Arabia. This move is in line with the Kingdom’s Vision 2030 development agenda, particularly focusing on the cruise, defense, and offshore sectors. The group revealed these plans in a press release issued during an industrial conference in Riyadh.

The release emphasized Fincantieri’s unique position as the only shipbuilding group involved in all high-tech marine industry sectors. The newly formed unit aims to showcase the group’s extensive capabilities in shipbuilding, maritime equipment, naval logistic support services, and training and simulation. Moreover, Fincantieri Arabia will play a crucial role in managing relationships with stakeholders in Saudi Arabia and identifying potential local partners.

Fincantieri’s CEO Pierroberto Folgiero expressed the firm’s unwavering commitment to Saudi Arabia, highlighting the company’s expertise in naval, cruise, and oil and gas sectors. He emphasized the importance of strategic partnerships in enhancing local technological capabilities, encouraging opportunities for Saudi talent, and facilitating knowledge exchange. Recently, Fincantieri expanded its presence in the Middle East, including forming a shipbuilding joint venture, Maestral, with the EDGE Group in Abu Dhabi, demonstrating its dedication to growth and innovation in the region.