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Ancona port upgrade will enable Fincantieri to build larger cruise ships

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Fincantieri's Pierroberto Folgiero, left, and ADSP's Vincenzo Garofalo shake on the Ancona port agreement
An €80m port upgrade will enable Fincantieri to build larger cruise and merchant ships at Ancona.

Ancona has been known for smaller luxury ships, with Seven Seas Grandeur due for delivery now, and other ships completed for Regent Seven Seas Cruises and for Silversea and Viking.

Fincantieri CEO Pierroberto Folgiero and Vincenzo Garofalo, president of the Port System Authority of the Central Adriatic Sea (ADSP) on Monday inked an agreement to foster the port's development.

The plan is to develop the port’s construction piers, dry dock, technological and lifting facilities to accommodate larger ships in the cruise and merchant sectors.

Public-private funding

Half of the €80m project is public funded, with €20m to build a new construction pier and €20m to extend the dry dock, including securing the breakwater.

The remaining €40m will come from a private investment by Fincantieri as part of a new 40-year state concession. The investment consists of industrial projects aimed at achieving the highest production and quality levels according to the best international standards in the sector, while providing better environmental sustainability and work safety.

The agreement follows the memorandum of understanding for strategic infrastructural investments for the development of shipbuilding in Ancona signed in 2018 by the Ministry of Infrastructure and Transport and ADSP, and the subsequent ministerial decree that granting the €40m public financing.

Creating value for the region and the shipbuilding sector

'With the development of the port of Ancona we’re moving into the future with ambition and innovation,' Folgiero said. 'This agreement underscores our ability to invest in the Italian system and to create value for the region and the entire shipbuilding sector. It’s an important step. To make things happen resources aren’t enough, you have to actually put them on the ground.'

For his part, Garofalo said the agreement and investment will have a 'strong impact on the future development prospects of the port of Ancona, with positive economic and social repercussions on the city and the region. Fincantieri, one of the port's primary operators,' he added, 'has thus reaffirmed its confidence in the possibilities of growth and development of the facility in Ancona and the entire port infrastructure.'