Italy's Port System Authority of the Central Adriatic Sea (ADSP) has granted local shipbuilder Fincantieri the use of over 314,000 square metres, including land areas, water surfaces and existing facilities within the Port of Ancona to expand Fincantieri's shipyard capacities.
The concession between Fincantieri and ADSP will remain valid until the end of 2064 and will allow Fincantieri to carry out and strengthen its shipbuilding activities.
With this concession, which concludes a process launched in 2017, Fincantieri will now commit to implementing a key modernisation and development program for the Ancona shipyard, with a total investment of approximately €40 million (US$46 million) by the company.
Fincantieri said the goal is to relaunch the Marche-region site, making it increasingly competitive in the construction of large naval vessels.
The company's existing facilities in Ancona are dedicated to the construction of cruise ships.
Fincantieri and ADSP had earlier entered into an agreement to develop the current infrastructure at the Port of Ancona to employ it for the construction of ships both in the cruise and merchant sector.
