Fincantieri sets up company in Qatar
Italian shipbuilder Fincantieri has established a subsidiary in Qatar which will be “the focal point” of all the services and after sales activities on the naval vessels of the group in the country.
The new company, Fincantieri Services Middle East in Doha, is licensed by the Qatar Financial Centre.
As explained by Fincantieri, the move is part of the group’s business development strategy in the Middle East.
The company, already operational, has entered into local agreements provided by the 2016 contract for the supply to the Qatar Emiri Naval Forces of seven surface vessels and the related support services. These agreements are expected to support and promote the entire shipbuilding and defense services industry in Qatar.
Fincantieri Services Middle East is a management company and will be engaged in services for both the platform and the combat system. The company be also focused on the lifecycle management of the vessels. It will supply both integrated logistic support, developed during design and construction of the ships, and in-service support, related to maintenance and developed after delivery and during operation of the vessel.
The establishment of Fincantieri Services Middle East in Qatar’s capital city follows the contract signed by Fincantieri with the Qatari Ministry of Defence in June 2016, worth almost EUR 4 billion, for the construction of seven surface vessels as well as support services in Qatar for an additional ten years after delivery of the vessels.
The vessels include four corvettes of over 100 meters in length, one amphibious vessel and two patrol vessels.
All the units will be entirely built at Fincantieri’s Italian shipyards, starting from 2018.