Fincantieri has committed to investing in the construction of the largest shipyard in Latin America as part of the expansion of Progreso port in Yucatán, Mexico, according to an official state announcement.
The Italian shipbuilding giant and Yucatán governor, Mauricio Vila (pictured right), confirmed that Fincantieri will initially invest $220m in the shipyard project, instead of $150m as originally planned. The deal was first announced in November last year, which committed to allocating up to $550m in three stages.
Fincantieri plans to design and build a new ship repair, conversion, and maintenance yard which will include the fabrication of two masonry piers, the largest in Latin America. Vila, who recently visited Fincantieri’s shipyard in Trieste, Italy, said that the Yucatán project will include a dry port of up to 400 m long, where large ships will be received, in particular cruise ships, as well as large containerships and tankers.
In addition, the project includes a lifting platform for units up to 150 m in length, approximately 1,000 m of docks, cranes, workshops, and other equipment.
“The project that Fincantieri has in Yucatán is to be able to carry out maintenance on cruise ships and platforms in the Gulf of Mexico. What they have told us is that in the medium term, from eight to ten years, we can also aspire to the construction of ships in Yucatán,” the governor said.
Following the acquisition of the Norwegian group Vard in 2013, and 50% of the French shipyard STX France in 2018, Fincantieri multiplied its size, becoming the fourth shipbuilder in the world, spread over 18 shipyards in Italy, Norway, Romania, Vietnam, the United States, Brazil and Australia.
“With the multi-million dollar investment to be made in the port of Progreso, Fincantieri will have the largest shipyard in America and will generate a substantial change in the economy and quality of life for Yucatecan families,” Vila said.