Fincantieri establishes its Middle East services subsidiary in Qatar
As part of its business development strategy in the Middle East, Fincantieri has established Fincantieri Services Middle East in Doha (Qatar), a wholly owned subsidiary licensed by the Qatar Financial Centre, 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 shipbuilding group said in a press release.
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 will 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 a wide range of services for both the platform and the combat system, and will be particularly focused on the life cycle management of the vessels. It will supply both integrated logistic support, typically developed during design and construction of the ships, including training activities, language courses, boarding and lodging, and in service support, dedicated 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 important contract signed by Fincantieri with the Qatari Ministry of Defence in June 2016, for a value of almost 4 billion euros, for the construction of seven surface vessels, of which four corvettes of over 100 meters in length, one amphibious vessel (LPD - Landing Platform Dock), and two patrol vessels (OPV - Offshore Patrol Vessel), as well as support services in Qatar for an additional 10 years after delivery of the vessels.
All the units will be entirely built in the Fincantieri Italian shipyards starting from 2018, ensuring several years of work and an important impact on the main Italian defense companies.