Italian shipbuilder opens Saudi Arabia subsidiary

Italian shipbuilder Fincantieri has established a new subsidiary in Saudi Arabia to expand its reach to customers in the cruise, offshore, and maritime security sectors.

Fincantieri Arabia will promote Fincantieri's capabilities in shipbuilding, maritime equipment and systems, and naval logistic support services, including training and simulation. The subsidiary will also coordinate stakeholder relationships in Saudi Arabia as well as identify potential local partners.

Pierroberto Folgiero, Fincantieri's CEO and Managing Director, said that through the collaboration with Saudi partners, the company aims to enhance local technological capabilities, create opportunities for Saudi talent, and foster knowledge exchange.

Mr Folgiero added that Fincantieri's focus on delivering environment-friendly ships is in line with Saudi Arabia's commitment to achieving net-zero emissions by 2060.