Italian shipbuilder Fincantieri and Barzan Holdings, a company wholly owned by the Qatari Ministry of Defense, could possibly cooperate in the coastal defence surveilllance sector in the future.
Fincantieri and Barzan Holdings, responsible for empowering the military capabilities of the national armed force in Qatar, have signed a letter of intent to study possible forms of cooperation in the coastal defense surveillance sector, through the implementation of new technologies and program management and maintenance services within the Qatari naval programs.
The agreement was signed in Doha by Angelo Fusco, Fincantieri Executive Vice President Naval Vessels Business Unit, and Abdulrahman Fakhro, Barzan Holdings’ Director of Business Development during DIMDEX 2018, a defense exhibition in the Middle East being held from March 12 to 14.
As explained, the letter of intent is part of Fincantieri’s business development strategy in the Middle East. In June 2016, the company signed an EUR 4 billion contract with the Qatari Ministry of Defence, for the construction of seven surface vessels 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.
In line with this result, Fincantieri established Fincantieri Services Middle East in Doha, 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 company has already entered into local agreements provided by the contract for the supply of services related to the seven vessels.