Fincantieri Signs Agreement to Develop New Mexican Ship Repair Yard

Fincantieri announced plans to develop a new ship repair yard in coordination with the government in Mexico’s Yucatan state. Strategically located close to the cruise trade and oil and gas industry, the yard will feature some of the largest facilities in the Americas.

Under the terms of a letter of intent signed with the Ministry of Economic Development and Labour of the Yucatán State, Fincantieri will participate in the design and construction of the new ship repair, conversions, and maintenance yard. Fincantieri will advise during the construction phases and will be granted a 40-year concession for the exclusive management of the new yard.

The shipyard will be located at the Port of Progreso, the main port in the Yucatan, in a new expansion and modernization zone dedicated to industrial activities. It is anticipated that construction will begin in the first half of 2021 with the government managing the dredging and construction of infrastructure. The yard will be developed in phases, which they plan to complete by 2027.

Among the facilities planned for the yard are two masonry dry docks able to accommodate ships up to 400 meters (over 1,320 feet) in length. The largest dry docks in the Americas, the yard will be able to service large cruise and cargo ships as well the oil and gas sector. 

The yard will also have a lifting platform for units up to 150 meters in length, about 1,000 meters of docks, cranes, workshops, special equipment, offices, and warehouses. Once the shipyard reaches full operational capacity, it is anticipated that it will employ up to 700 full-time personnel as well as supporting a network of up to 2,500 people during peak times.

The new Progreso shipyard will be strategically placed to serve a broad range of the commercial shipping industry both with repairs and ongoing maintenance. The location and size of the facility will be especially important to the cruise industry which prefers yards close to the ship’s area of operations. The cruise industry supported the development and is a major customer of the shipyard at Freeport in the Bahamas because of its proximity to the cruise ships’ U.S. homeports. The location in Progresso also provides good access to the oil and gas operations in the Gulf of Mexico.