Fincantieri strengthens strategic ties with Qatar
- Industry news
Italian shipbuilder Fincantieri and Qatari Ministry of Defence’s Barzan Holding have signed a memorandum of understanding (MoU) aimed at strengthening their strategic partnership.
As informed, the parties intend to evaluate and study new technologies and capabilities, possibly leading to a future acquisition of new vessels already in 2020.
Barzan Holding is a company wholly owned by the Qatari Ministry of Defense and responsible for empowering the military capabilities of the national armed force in the state.
The programs indicated in the MOU include, among others, the design, construction and management of the naval base, whole warship fleet management, the application of new technologies such as digital radar and cybersecurity, as well as the supply of cutting-edge naval vessels and submarines.
According to the shipbuilder, the MOU improves the strategic relationship between Fincantieri and Qatari Armed Forces and falls within Fincantieri’s business development strategy in the Middle East.
In 2016, the company signed an almost EUR 4 billion contract with the Qatari Ministry of Defence for the construction of seven surface vessels currently being built at the Italian shipyards. The contract included the construction of four corvettes of over 100 meters in length, one amphibious vessel and two patrol vessels, as well as support services in Qatar for an additional 10 years after delivery.
Fincantieri also established Fincantieri Services Middle East in Doha, which will be the focal point for all the services and after-sales activities on the naval vessels built by the group for Qatar.