Fincantieri to put up shipyard in Yucatan, Mexico

Fincantieri has signed a letter of intent (LOI) with the Ministry of Economic Development and Labour of Mexico’s Yucatan state to participate in the design and construction of a new ship repair, conversions, and maintenance yard.

The facility will be located within the expansion and modernisation of the Port of Progreso, the main port of the state, approximately 35 kilometres from the capital Merida. Here, a new area will be entirely dedicated to industrial activities.

Fincantieri will be granted a 40-year concession for the exclusive management of the new yard.

The project envisages two masonry dry docks, the largest in the Americas. These will be able to harbour ships up to 400 metres in length, particularly cruise ships, large cargo ships, and offshore vessels.

The yard will also have a lifting platform for units up to 150 metres in length, about 1,000 metres of docks, cranes, workshops, special equipment, offices, and warehouses.

Initially, the creation of the yard will be carried out by the Yucatan state government starting by the first half of 2021. Completion is expected by 2027.

The state government will directly manage initial works through a special purpose company that will handle the dredging and the construction of the infrastructures and main plants. Fincantieri will handle the later stages of the project, which will include building advanced facilities such as workshops and lifting equipment.

The new Progreso shipyard will be strategically placed to serve the merchant operators of this area, benefiting from the near Yucatán navigation channel, a natural outlet to the Atlantic Ocean. The gulf is also a region with a strong concentration of oil and gas related operations, with offshore exploration, production, and storage of oil and natural gas.

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