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RIYADH: One of the world’s biggest shipbuilders will work in partnership with Saudi Arabia to strengthen the Kingdom’s maritime sector, with a focus on sustainability and the development of “green shipping.”

Fincantieri, an Italian company and Europe’s largest shipbuilding group, highlighted its commitment to Saudi Arabia’s Vision 2030 agenda at a conference under the theme “Where Vision Meets Maritime Excellence” held in Riyadh on Wednesday.

Saudi decisionmakers from related sectors in Riyadh joined Italian officials in a range of sessions at the forum.

During the event, Fincantieri CEO Pierroberto Folgiero outlined the shipbuilder’s plans to collaborate with Saudi companies in line with Vision 2030.

“Our commitment to the Kingdom of Saudi Arabia is steadfast,” he said.

Fincantieri stands out in the shipbuilding industry for its innovation, and has a leading role in the naval, cruise, and oil and gas sectors, Folgiero said.

The CEO highlighted the importance of developing green ships, designed to minimize the environmental impact of maritime operations, as part of Saudi Arabia’s commitment to achieving net-zero emissions by 2060.

Digitizing shipyard operations through innovations such as AI also aligns with the goals of Vision 2030, Folgiero said.

“Today, the shipping industry and the maritime industry, in general, is coping with environmental regulation. For us, it is not only a source of compliance, but also a source of distinctiveness. So, we believe that in the maritime sector, in the shipbuilding sector, mastering energy transition and new technologies will be a source of competitiveness and distinctiveness,” he said.

“That is why we are engaged in all the solutions (regarding) energy transition at sea. We are a new engine. We are in biofuels. We are in methanol. We are in LNG. We are in ammonia. We are in hydrogen. We are everywhere there is innovation at sea.”

Maria Tripodi, undersecretary of state for foreign affairs at the Italian Ministry of Foreign Affairs and International Cooperation, discussed the significance of keeping operations and businesses sustainable.

Fincantieri’s ships are built to produce zero carbon emissions, which helps to protect the environment and marine ecosystem, she said.

Khalil Ibrahim bin Salamah, deputy minister for industry affairs at the Saudi Ministry of Industry and Mineral Resources, said: “Localization for us is a key factor. Key components are crucial, but the whole supply chain is equally important.”

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