by InTrieste
Fincantieri, one of the world’s largest shipbuilding groups, has announced the signing of a series of Memorandums of Understanding (MoUs) with Saudi Arabia, aimed at expanding its presence and partnerships in the region. The agreements come in the wake of the establishment of the company’s Saudi subsidiary, Fincantieri Arabia for Naval Services, in 2024.
The collaborations are part of a broader strategy by Fincantieri to foster innovation, sustainability, and industrial development, aligning with Saudi Arabia’s Vision 2030 initiative. This program, launched by the Saudi government, seeks 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. The Italian group is the only shipbuilding company operating globally in all areas of advanced naval engineering, supported by a vertically integrated business model and decades of experience.
Pierroberto Folgiero, Fincantieri’s CEO and General Manager, described Saudi Arabia as an emerging global center for maritime technology. “These agreements reaffirm our commitment to this region and our openness to exploring new opportunities, particularly in defense,” Folgiero said. He also highlighted the potential for collaborative efforts to advance innovation and sustainability, in line with the goals outlined in Vision 2030.
Saudi Arabia has been making strides in attracting global industry leaders to participate in its economic transformation. For Fincantieri, these agreements represent an opportunity to contribute to the region’s growing maritime sector while strengthening its foothold in a strategically important market.
