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Fincantieri sets up Mideast services company in Qatar

BUSINESS
Fincantieri sets up Mideast services company in Qatar

As part of its business development strategy in the Middle East, Fincantieri has established Fincantieri Services Middle East in Qatar's capital Doha (Qatar), the Italian shipbuilding giant said on Thursday.

The management company will be the "focal point" for all services and after sales activities relating to naval vessels supplied by Fincantieri, the Trieste-based shipbuilder stated.

The company, which is already operational, has entered into local accords under a multi-billion euro contract to build seven surface vessels for Qatar's navy and related support services, signed last year, Fincantieri said.

"These agreements will support and promote the entire shipbuilding and defence services industry in Qatar," Fincantieri stated.

Fincantieri Services Middle East will carry out a wide range of services for platform and combat systems and will have a particular emphasis on the life cycle management of ships, according to the shipbuilder.

The company will supply integrated logistic support, typically developed during design and construction of the ships, including training activities, language courses, boarding and lodging, as well as service support, dedicated to maintenance and developed after delivery and during operation of the vessels.

The establishment of Fincantieri Services Middle East follows the major contract signed by Fincantieri with the Qatari defence ministry in June 2016, whose value is almost 4 billion euros, Fincantieri said.

Fincantieri said it will supply Qatar's navy with four corvettes of over 100 metres in length, one amphibious vessel (LPD - Landing Platform Dock), and two patrol vessels (OPV - Offshore Patrol Vessel) under the deal, as well as support services in Qatar for a further 10 years after delivery of the vessels.

All the vessels will be entirely built in Fincantieri's Italian shipyards beginning in 2018 and ensuring several years of work - commissions that will have "an important impact on the main Italian defence companies," said Fincantieri.

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