Italian shipbuilding colossus Fincantieri has signed a historic deal with Saudi Red Sea Authority to revolutionize the Kingdom’s coastal development. The collaboration will develop maritime tourism, improve port facilities, and ensure sustainability along Saudi Arabia’s stunning Red Sea coast.
The strategic partnership is a major step in Saudi Vision 2030, which emphasizes economic diversification and tourism. Leveraging the global expertise of Fincantieri in shipbuilding and marine engineering, the project assures the development of Saudi Arabia’s coastal infrastructure and increased job creation in various sectors.
The partnership, according to authorities, will involve the development of high-end marinas, cruise terminals, and support logistics services jointly. Untapped potential in the Red Sea will be leveraged by world-class innovation, integrating eco-friendly design with contemporary marine functionality.
Fincantieri chief Pierroberto Folgiero underscored the global cooperation, saying the transaction “seals our long-term dedication to the maritime future of the Middle East.” The alliance may open the door to further cross-border investments in marine tourism and industry.
