Fincantieri Signs Contract Defining Cruise Park Project

By ,   November 6, 2018 ,   Cruise Industry

At the presence of Italy's Deputy Prime Minister and Minister of Economic development & Labor Luigi Di Maio and Chairman of Cassa depositi e prestiti Massimo Tononi, Fincantieri CEO Giuseppe Bono and District Mayor of Baoshan Fan Shaojun, within the development of shipbuilding segments, set out by China, signed contracts aimed at creating a cruise ship hub, mainly dedicated to activities in the sector, as well as in maritime and shipbuilding.

As part of the agreements between CSSC, Carnival Corporation & plc and Fincantieri announced in February last year and related to the building of 2 cruise ships, the first ever constructed in China for the local market, the cruise hub will act as fundamental industrial basin to supply the production. Currently, 70% of the total value of modern cruise ships is realized via the supply.

Baoshan district will provide tax commercial, administrative benefits and financing, land for necessary development as well as other resources, in the light of possible establishment of foreign companies, to be introduced by the partners.

Fincantieri Italy shipyard

Fincantieri has given support to the district in defining preferential policies to attract suppliers. The shipbuilder will promote the park in its network and in cruise industry as a whole, as a foundation for companies that want to access to the project's opportunities.

In such a way, the Group will be a lever for establishment in the country of its supply chain or other SMBs, that would benefit from the operation.

The project is part of initiatives undertaken by Fincantieri aimed at developing the Chinese cruise market, which could reach new goals in the coming days.

The activities are expected to allow Fincantieri monitor as first mover the development of the strategic market, to broaden borders and lay the foundation for further developing its business and accessing the most complex markets, considering the favorable moment the cruise sector is currently experiencing.