The Saudi Red Sea Authority (SRSA) has signed a Memorandum of Understanding (MoU) with global shipbuilding group Fincantieri to enhance marina infrastructure and develop coastal tourism across Saudi Arabia.
On 23 May 2025, SRSA CEO Mr. Mohammed Al-Nasser and Fincantieri CEO and Managing Director Mr. Pierroberto Folgiero signed the agreement, which aims to strengthen collaboration in the management and development of Saudi Arabia’s coastal tourism sector, with a strong focus on sustainability and maritime innovation.
Under the MoU, both parties will work together to advance marina development while safeguarding marine ecosystems and natural resources. The partnership will also focus on maritime safety, infrastructure improvements and joint efforts in research and innovation for advanced marine technologies.
The agreement supports SRSA’s wider mandate to regulate and standardise the coastal tourism environment in Saudi Arabia. The initiative includes protecting marine areas, introducing international best practices and enabling the growth of a sustainable and competitive marina sector.
Fincantieri brings extensive expertise to the table in maritime engineering and innovation. The collaboration is expected to contribute to Saudi Arabia’s broader vision for sustainable coastal tourism.
In a separate statement, SRSA announced the issuance of its first marina operator licences. On 15 May 2024, the Authority confirmed that three licences had been granted to operators of tourist marinas, including Al-Ahlam Marina in Jeddah and Jazan, as well as Red Sea Marina in Jeddah. The step forms part of SRSA’s efforts to establish operational procedures, improve service quality, preserve the marine environment and align marina operations with international standards.
