Following a record-high order value, Italy’s Fincantieri announced the launch of a shipyard expansion plan.
On November 19, Fincantieri announced on its official website that the concession regulating the occupation and use by Fincantieri of a significant portion of the Port of Ancona for its industrial activities has been signed. The agreement was signed by the President of the Central Adriatic Sea Port System Authority, Vincenzo Garofalo, and Fincantieri’s Chief Executive Officer and General Manager, Pierroberto Folgiero.
The Port Authority has granted Fincantieri the use of over 314,000 square metres, including land areas, water surfaces and existing facilities within the Ancona port. The concession will remain valid until the end of 2064 and will allow the company to carry out and strengthen its shipbuilding activities.
With this concession, which concludes a process launched in 2017, Fincantieri commits to implementing an important modernization and development program for the Ancona shipyard, with a total investment of approximately 40 million euros by the company. The goal is to relaunch the Marche-region site, making it increasingly competitive in the construction of large naval units.
However, the Ancona shipyard has not built any naval vessels since the 1980s. But with Europe and countries around the world increasing their warship-building capabilities, Fincantieri’s move will help it expand its production capacity to meet anticipated growth.
This authorization agreement is the latest step in the Ancona shipyard upgrade program, which began in 2017 and took eight years to finalize. Two years ago, the port authority approved a €40 million public fund allocation for port facility construction, with 50% earmarked for new shipyard quays and 50% for expanding dry docks and reinforcing breakwaters.
This step represents a new milestone in the shared path between Fincantieri and the Port Authority, initiated with the agreement signed in November 2023 and dedicated to the growth and innovation of shipbuilding activities within the Port of Ancona.
The concession confirms the joint intention to enhance the strategic role of both the port and the shipyard, strengthening their contribution to the economic development of the region and of the Italian naval industry.
Pierroberto Folgiero, Chief Executive Officer and General Manager of Fincantieri, stated: “The signing of the concession represents a fundamental step for the future of the Ancona shipyard and for the entire Italian shipbuilding sector. Investing in Ancona means investing in the country’s ability to remain a leader in innovation and global competitiveness. With our development plan, we intend to transform the shipyard into a centre of excellence, where tradition and technology come together to create value for the region and for the entire industrial supply chain. Our commitment is to build, together with the Port Authority and local institutions, a sustainable and cutting-edge future for Italian shipbuilding.”
Vincenzo Garofalo, President of the Central Adriatic Sea Port System Authority, stated: “Today’s signing confirms Fincantieri’s long-term project for the Port of Ancona. A presence that means work, innovation, and opportunities for the entrepreneurial fabric of the Marche and central Italy, which will continue to find in the Ancona shipyard a key point of reference. The construction of cruise ships, especially those in which the Ancona shipyard specializes, continues to grow and brings with it major environmental innovations and new onboard experiences. A unique capability, another worldwide example of Made in Italy excellence that attracts, engages and inspires. We are proud that these unique creations will continue to be brought to life in our port.”
It is understood that the Ancona shipyard is one of Fincantieri’s most historically significant bases, with its shipbuilding operations dating back to 1843. Today, as one of Fincantieri’s smaller shipbuilding facilities, Ancona Shipyard specializes in constructing cruise ships and luxury yachts. It is currently building luxury cruise projects for Viking Cruises (12 vessels delivered, 10 under construction), Regent Seven Seas Cruises, Silversea Cruises and Four Seasons Cruises.
As one of the world’s largest shipbuilding groups, Fincantieri has built over 7,000 vessels to date. According to its recently disclosed performance data, the group secured orders for 21 new vessels worth €16.02 billion in the first nine months of this year—an 88% increase compared to the same period last year (€8.504 billion)—already surpassing its full-year 2024 order value of €15.355 billion. Its order backlog stands at 100 vessels. Delivery schedules are booked through 2036.