Fincantieri signed a Memorandum of Understanding with the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia to advance a modern, sustainable, and high-tech maritime ecosystem aligned with Saudi Vision 2030. The agreement was concluded in Riyadh by Pierroberto Folgiero, CEO and Managing Director of Fincantieri, and Saleh Shabab Al-Solami, CEO of the Industrial Center.
Agreement scope and collaboration
The framework covers vessel design, construction, and maintenance, as well as dual-use offshore platforms and integrated marine and infrastructure projects. It aims to transfer know-how, strengthen industrial capabilities, and deepen Italy – Saudi collaboration in technology and industry.
The partnership will coordinate with specialized companies, universities, and research centers under the Saudi Industrial Center. Priority areas include advanced marine systems integration, smart shipyard technologies, green propulsion, digital transformation, cybersecurity, and technical training.
Strategic significance and company background
For Fincantieri, the MoU expands its growing presence in the Kingdom and supports its “Long Wave” strategy focused on collaboration, innovation, and local skills development. It follows the launch of Fincantieri Arabia for Naval Services in Riyadh and complements ongoing work with the Saudi Red Sea Authority and King Abdullah University of Science and Technology.
According to Fincantieri, the Group is among the world’s largest shipbuilders, active across high-complexity marine sectors with a network of 18 shipyards and over 23,000 employees worldwide. The company cites more than 230 years of history and over 7,000 ships built, with more than 12,000 direct employees in Italy and about 90,000 indirect jobs.
This agreement positions Fincantieri as a long-term partner in Saudi Arabia’s maritime growth, pairing global expertise with local industrial ambition to build a resilient, future-focused ecosystem.
