Fincantieri sees major opportunity to expand its role in Saudi Arabia’s cruise, maritime and shipbuilding sectors as the Kingdom advances its Vision 2030 economic diversification strategy.
In an interview with Saudi Gazette, Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri explained that Saudi Arabia’s growing focus on cruise infrastructure and sustainable tourism along the Red Sea coast provides the Italian shipbuilding giant the opportunity to be a key partner.
Fincantieri’s expansion into Saudi Arabia has been driven by the region’s strategic significance and increasing investment in maritime industries, he said.
“Fincantieri’s growth in Saudi Arabia and the broader GCC region is driven by the region’s strategic significance, robust economy, and growing investments in maritime and defense sectors,” said Folgiero.
Aroya alongside in Jeddah
“Situated at the crossroads of global trade routes, the GCC is vital to international shipping and logistics. As regional governments embark on ambitious initiatives such as Saudi Arabia’s Vision 2030, which focuses on economic diversification and infrastructure modernization, the shipbuilding and maritime sectors are integral to this transformation.”
Saudi Arabia is making substantial investment in its cruise sector, including the development of cruise ports on the Red Sea, and the launch of its first-ever homegrown domestic cruise line, AROYA Cruises.
The company’s presence in Saudi Arabia was strengthened with the establishment of Fincantieri Arabia for Naval Services in 2024, which serves as a platform for advancing local shipbuilding capabilities and technology transfer.
“Fincantieri is cementing its role as a key enabler of Saudi Arabia’s Vision 2030 with our local subsidiary, Fincantieri Arabia for Naval Services, facilitating the transfer of cutting-edge technologies and expertise to regional partners,” he said. “Fincantieri Arabia for Naval Services was established in 2024 to showcase our extensive shipbuilding expertise across maritime systems and naval logistics support services, including advanced training and simulation capabilities.”
As Saudi Arabia moves to establish itself as a major player in the cruise industry, Fincantieri sees opportunities to support the development of sustainable maritime infrastructure and eco-friendly cruise vessels.
The Kingdom has already announced significant investments in ports and destinations, including Jeddah, Yanbu, and Sindalah Island, as it looks to attract international cruise lines and develop homeporting capabilities.
“Beyond defense, we view Saudi Arabia’s ambitious projects, such as NEOM and the Red Sea coastline development, as transformative for the global cruise and tourism industries,” said Folgiero. “These projects, blending innovation, luxury, and sustainability, align with Vision 2030’s goal of positioning Saudi Arabia as an international tourism hub.”
Saudi Arabia’s push to localise its shipbuilding industry is a key aspect of Vision 2030, and Fincantieri has committed to supporting this shift by transferring expertise, fostering workforce development, and driving technological advancements.
“Saudi Arabia has traditionally relied on foreign contractors, but with the Kingdom’s strong push to develop domestic capabilities, Fincantieri aligns its strategy with Vision 2030’s goal of strengthening local industries. We firmly embed ourselves within the local industrial ecosystem by establishing joint ventures and deepening partnerships, ensuring long-term, sustainable collaboration beyond individual projects.”
Saudi Arabia’s recent launch of AROYA Cruises, the Arab world’s first homegrown local cruise line, presents opportunities for the localisation of cruise refit and refurbishment work, and the involvement of Fincantieri in the industry suggests local cruise ship building may even be planned in future.
Fincantieri is well-placed to support Saudi Arabia’s cruise industry ambitions
Fincantieri also sees Saudi Arabia’s sustainability targets as an area of alignment with its expertise in green shipbuilding. The company has been at the forefront of designing LNG-powered cruise ships and integrating digital innovations to enhance operational efficiency.
“Our focus on green ship development aligns with Saudi Arabia’s sustainability goals under Vision 2030 and its commitment to achieving net-zero emissions by 2060. By developing new clean technologies, Fincantieri positions itself as a competitive force in the global maritime industry.”
With Saudi Arabia’s cruise sector poised for rapid expansion, Fincantieri expects its role in the Kingdom’s maritime transformation to grow in tandem. “Saudi Arabia’s significant investments in world-class cruise infrastructure, including ports in Jeddah, Yanbu, and Sindalah Island, will further solidify its position as a regional hub for maritime connectivity.”
“These developments will create opportunities for homeports and regional cruise itineraries while preserving the delicate balance of the Red Sea ecosystem. Fincantieri is well-positioned to support these efforts, leveraging our expertise in designing eco-friendly ships, such as LNG-powered vessels, and developing green port infrastructure that aligns with Saudi Arabia’s sustainability goals.”
As Saudi Arabia continues to build its reputation as a luxury tourism destination, Fincantieri’s expertise in shipbuilding, sustainability, and technological innovation places it at the center of the Kingdom’s efforts to create a world-class cruise industry.
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Appeared first on: Cruisearabiaonline.com