The agreement establishes a framework for collaboration for the design, construction and maintenance of naval units, as well as for the development of dual-use offshore platforms 

Fincantieri announced that it has signed a Memorandum of Understanding with the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia aimed at promoting the development of an advanced, sustainable and high-tech maritime ecosystem, in line with the objectives of Saudi Vision 2030.

Signing the agreement

The agreement was signed in Riyadh by Pierroberto Folgiero, CEO and General Manager of Fincantieri, and Saleh Shabab Al-Solami, CEO of the Industrial Center of the Ministry of Industry and Mineral Resources. The Italian group explained in a statement that this agreement represents a significant step in strengthening industrial and technological cooperation between Italy and Saudi Arabia promoting the transfer of skills and know-how to support the Kingdom's long-term industrial transformation and diversification. 

 A collaborative framework of the Agreement 

The agreement establishes a collaborative framework for the design, construction  and maintenance of naval vessels as well as the development of dual-use offshore platforms and integrated projects in the maritime and infrastructure sectors.

 Includes of the partnership also 

The partnership also includes close coordination with specialized companies, academic institutions, and research centers under the auspices of the Saudi Industrial Center to strengthen training and skills development in areas such as advanced naval systems integration smart shipyard technologies, green propulsion systems, digital transformation, cybersecurity, and technical training.

A growing network of partnerships 

For Fincantieri, this agreement represents a new milestone in its growing presence in Saudi Arabia and consolidates the group's strategic positioning in the Kingdom.

This cooperation adds to a growing network of partnerships already established by Fincantieri with leading Saudi institutions including the Saudi Red Sea Authority and the King Abdullah University of Science and Technology, strengthening the Italian group's role as a strategic partner in the growth of Saudi Arabia's maritime and industrial capabilities.

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Our long-term strategy in Saudi Arabia

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"This agreement represents a key milestone in our long-term strategy in Saudi Arabia," said Folgiero. "By combining Fincantieri's global expertise with the Kingdom's industrial vision, we are ready to build an advanced and sustainable maritime ecosystem, in line with Vision 2030. We intend to continue to be a key player in Saudi Arabia's industrial transformation, investing in the development of local expertise and the creation of an innovative and autonomous supply chain. We aim to generate lasting value for future generations and for the economies of both countries."

Source : Press - Release 

Saudi Arabia , Fincantieri , agreement ,  new maritime partnerships , Pierroberto Folgiero , Saleh Shabab Al-Solami ,Saudi Vision 2030