Fincantieri, ASRY Agree to Explore Gulf Shipbuilding Projects

Italy’s Fincantieri and Bahrain’s Arab Shipbuilding & Repair Yard (ASRY) signed an industrial cooperation agreement to explore joint opportunities in naval and offshore vessel construction and maintenance.

Under the agreement, the two companies will assess cooperation on designing and building surface military vessels up to 80 meters for the Bahrain Navy and Coast Guard, and offshore vessels of similar size. The partnership will also cover potential export contracts across the Gulf region.

The companies plan to cooperate on maintenance, repair and overhaul (MRO) services for military, commercial and offshore vessels, as well as exchanges of technical expertise in naval design and production optimization.

Fincantieri said the partnership forms part of its wider Middle East strategy, which includes potential synergies with MAESTRAL, its joint venture with the UAE’s EDGE Group.

“This agreement strengthens our strategic position in the Gulf and confirms Fincantieri's desire to develop long-term industrial partnerships with leading partners such as ASRY. By combining complementary skills and converging visions, we are laying the foundations for a solid and structured presence in the Bahraini shipbuilding market, in line with the objectives of our integrated export platform in the Middle East,” said Pierroberto Folgiero, CEO and Managing Director of Fincantieri.