Italian shipbuilding leader Fincantieri SPA has announced the establishment of a subsidiary in Saudi Arabia, marking a significant step towards bolstering the kingdom's maritime industry and aligning with its ambitious Vision 2030 development plan. This strategic move comes on the heels of Fincantieri's recent joint venture with the UAE's EDGE Group, solidifying the company's commitment to expanding its footprint in the Middle East.
Fincantieri Arabia, the newly formed entity, aims to collaborate with local partners and contribute to Saudi Arabia's economic diversification goals. The subsidiary will focus on a three-pronged approach:shipbuilding, maritime equipment and systems, and naval logistic support services. This comprehensive strategy is designed to not only deliver high-quality vessels but also create job opportunities and transfer knowledge to Saudi nationals, fostering a skilled local workforce within the maritime sector.
The establishment of Fincantieri Arabia aligns perfectly with Saudi Arabia's Vision 2030, a transformative economic and social reform plan that seeks to reduce the country's dependence on oil and diversify its revenue streams. The development of a robust maritime industry is a key pillar of this vision, and Fincantieri's expertise positions them as a valuable partner in achieving these goals.
Fincantieri boasts a rich heritage, having constructed over 7, 000 vessels throughout its impressive 230-year history. With a global network of 18 shipyards and nearly 21, 000 employees, the company is a leader in the shipbuilding industry. This extensive experience, coupled with their focus on cutting-edge technologies like digital twins, artificial intelligence, and automation, positions Fincantieri Arabia to deliver innovative solutions for the Saudi Arabian market.
The reach of Fincantieri extends beyond shipbuilding. The company is actively involved in the digitalization of shipyard operations, incorporating advancements like cybersecurity and engineering services for maritime applications and critical infrastructure. This focus on comprehensive maritime solutions creates a compelling value proposition for Saudi Arabia, aiming to not just construct ships but contribute to the development of a technologically advanced maritime ecosystem.
The launch of Fincantieri Arabia signifies a new chapter in the company's international expansion strategy. By leveraging its expertise and collaborating with local partners, Fincantieri is poised to play a pivotal role in shaping the future of Saudi Arabia's maritime industry and contribute to the success of Vision 2030.