Italy's Fincantieri to contribute to Saudi Arabia's maritime development
Italian shipbuilding leader
Fincantieri has entered into a preliminary agreement with the Saudi Red Sea
Authority (SRSA) to collaborate on maritime development initiatives in Saudi
Arabia’s Red Sea region.
Signed in Riyadh by Fincantieri CEO
Pierroberto Folgiero and SRSA CEO Mohammed Al-Nasser, the deal sets the
foundation for future cooperation in cruise ship construction and the
development of coastal tourism and port infrastructure.
Fincantieri sees this partnership as
a strategic step toward contributing to Saudi Arabia’s Vision 2030, a national
plan focused on diversifying the economy and growing the tourism sector. The
company’s broad expertise in both civilian and naval shipbuilding aligns with
the Kingdom’s goals for maritime and coastal growth.
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“This partnership supports our
ongoing strategy to expand our presence in the region,” said Folgiero. “Our
objective is to contribute technical expertise in shipbuilding and maritime
infrastructure in support of the Red Sea Authority’s development goals.”
As part of its regional expansion,
Fincantieri also launched the Riyadh offices of its subsidiary, Fincantieri
Arabia for Naval Services, to strengthen local operations and support future
civilian and defense projects.
The SRSA oversees coastal tourism
and maritime activity along the Red Sea, where several high-profile
projects—including The Red Sea Project and NEOM—are currently underway.
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Jeddah, located on the Red Sea
coast, is Saudi Arabia’s second-largest city and a key commercial hub, making
it a central point for maritime development efforts in the Kingdom.
Source: Gulf News
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