Fincantieri has announced the signing of several Memorandums of Understanding (MoUs) with Saudi Arabia, solidifying its commitment to expanding its presence and partnerships in the region.
These collaborations align with Saudi Arabia's Vision 2030 initiative, which aims to diversify the nation's economy and establish it as a hub for advanced industries, including maritime technology.
According to a company statement, the agreements aim to enhance Fincantieri's operations across its core sectors—defense, cruise, and offshore industries. As the only shipbuilding company operating globally in all areas of advanced naval engineering, supported by a vertically integrated business model and decades of experience, Fincantieri is well-positioned to contribute significantly to the Saudi market.
Pierroberto Folgiero, Fincantieri's CEO and General Manager, emphasized the strategic importance of Saudi Arabia. "With these agreements, we want to reaffirm our strong interest in this region and our willingness to explore new business opportunities in our three main business segments, defense first and foremost," Folgiero stated.
These agreements follow the establishment of Fincantieri Arabia for Naval Services in 2024, underscoring the company's commitment to the Saudi market.