Fincantieri, a leading Italian group and one of the world's largest shipbuilding groups, has announced that it has signed an agreement with ASRY (Arab Shipbuilding & Repair Yard) to explore collaboration in the shipbuilding sector, thus reinforcing its presence in the Gulf region. 

Under the agreement, the two companies will jointly assess opportunities for the design and construction of surface naval vessels up to 80m in length for domestic use by the Navy and the Coast Guard. 

The partnership will also explore the design and construction of offshore units of similar size, as well as the execution of export contracts in the Gulf region. 

The agreement was signed on the sidelines of the 46th GCC Summit by Biagio Mazzotta, the Chairman of Fincantieri and Eugenio Santagata, General Manager of Fincantieri Naval Vessels Division, with Ahmed AlAbri, the Chief Executive Officer of ASRY, in the presence of Italian President of the Council of Ministers Giorgia Meloni, and Crown Prince and Prime Minister of the Kingdom of Bahrain, His Royal Highness Salman bin Hamad Al Khalifa.

The Italian group said the new venture covers maintenance, repair, and overhaul (MRO) services for naval, commercial, and offshore vessels, as well as the exchange of know-how in ship design and production process optimisation.

This understanding represents a significant opportunity for Fincantieri to enter Bahrain’s naval market and is another step in consolidating the group’s presence and strategy in the Middle East, also leveraging a potential collaboration with Maestral, the joint venture between Fincantieri and EDGE Group. 

A leader in the construction of cruise ships, naval and offshore vessels, Fincantieri stands out for its extensive experience in the development of underwater solutions, thanks to its integrated industrial structure capable of managing and co-ordinating all activities related to the commercial, defence and dual-use sectors.

With over 230 years of history and more than 7, 000 ships built, Fincantieri is a global player with a production network of 18 shipyards worldwide and over 23,000 employees. 

It maintains its know-how, expertise and management centres in Italy, where it directly employs over 12,000 workers and creates around 90,000 indirect jobs. -TradeArabia News Service