Italian shipbuilder Fincantieri and the Ministry of Industry and Mineral Resources of Saudi Arabia have signed a memorandum of understanding (MOU) aimed at developing what is described as an, “advanced and sustainable, technologically driven,” maritime ecosystem in the Kingdom.
The MOU establishes a framework for collaboration in the design, construction, and maintenance of vessels, as well as the development of dual-use offshore platforms and integrated marine and infrastructure projects.
The partnership also includes close coordination with specialised companies, educational institutions, and research centres to enhance capacity building in areas such as, "smart shipyard technologies, green propulsion systems, and digital transformation."
Fincantieri stated the agreement is a further milestone in its growing presence in Saudi Arabia, following the opening of its Fincantieri Arabia for Naval Services offices in Riyadh last May.
Fincantieri CEO and Managing Director Pierroberto Folgiero stated, “This agreement represents a pivotal step in our long-term strategy in Saudi Arabia…We aim to remain an active contributor to Saudi Arabia’s industrial transformation, investing in the development of local skills and the creation of an innovative and autonomous supply chain.”
