(MENAFN- Mid-East Info) The agreement reinforces the Group's presence in the Gulf region

In the presence of Italian President of the Council of Ministers Giorgia Meloni, and Crown Prince and Prime Minister of the Kingdom of Bahrain, His Royal Highness Salman bin Hamad Al-Khalifa, Fincantieri and ASRY (Arab Shipbuilding & Repair Yard), a leading provider of ship repair and marine services in the Gulf, today signed a Partnership Agreement aimed at exploring the scope of collaboration in the shipbuilding sector. The signing took place on the sidelines of the 46th Gulf Cooperation Council Summit. Representing Fincantieri were its Chairman, Biagio Mazzotta, and Eugenio Santagata, General Manager of the Fincantieri Naval Vessels Division, who signed the agreement together with Ahmed AlAbri, Chief Executive Officer of ASRY.

This understanding represents a significant opportunity for Fincantieri to enter Bahrain's naval market and is another step in consolidating the Group's presence and strategy in the Middle East, also leveraging a potential collaboration with Maestral, the joint venture between Fincantieri and EDGE Group. Under the agreement, the two companies will jointly assess opportunities for the design and construction of surface naval vessels up to 80 meters in length for domestic use by the Navy and the Coast Guard. The partnership will also explore the design and construction of offshore units of similar size, as well as the execution of export contracts in the Gulf region. Additionally, the arrangement covers maintenance, repair, and overhaul (MRO) services for naval, commercial, and offshore vessels, as well as the exchange of know-how in ship design and production process optimization.

Fincantieri is one of the world's largest shipbuilding groups, the only player active in all high complexity marine industry sectors. The Group is a leader in the construction of cruise ships, naval and offshore vessels, and stands out for its extensive experience in the development of underwater solutions, thanks to its integrated industrial structure capable of managing and coordinating all activities related to the commercial, defense, and dual -use sectors. It holds a strong presence in key markets also thanks to the internalization of high value-added, distinctive technologies; it is also a leader in sustainable innovation and in the digital transformation of the shipbuilding sector. The company is active in the field of mechatronics, electronics, and digital naval systems, as well as in cybersecurity, artificial intelligence, and marine interiors solutions. It also offers a wide range of after-sales services, including logistic support and fleet assistance. With over 230 years of history and more than 7, 000 ships built, Fincantieri is a global player with a production network of 18 shipyards worldwide and over 23,000 employees. It maintains its know-how, expertise and management centers in Italy, where it directly employs over 12,000 workers and creates around 90,000 indirect jobs.

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