Italian-listed shipbuilder Fincantieri SPA has announced a new Saudi Arabian subsidiary two days after formalising a joint venture with UAE defence company EDGE.

Fincantieri Arabia is to work with local partners to focus on shipbuilding, maritime equipment and systems, and naval logistic support services and create opportunities for Saudi nationals, as part of the kingdom’s Vision 2030 diversification plans.

Fincantieri CEO and managing director Pierroberto Folgiero said the group focuses on digitalising shipyard operations through innovations such as digital twins, artificial intelligence and welding robots and unmanned vehicles. Other verticals include digital, cybersecurity, and engineering services for maritime applications and critical infrastructure.

Milani-listed Fincantieri is one of the world's largest shipbuilders, having built 7,000 ships in its 230 years of history, operating 18 shipyards with almost 21,000 employees.

(Writing by Imogen Lillywhite; editing by Brinda Darasha)