The Alexandria Naval Shipyard and the Italian company Fincantieri have signed a memorandum of understanding, where both parties will discuss cooperation and joint ventures regarding the construction of naval vessels.

It is important to note that the Alexandria Shipyard has become one of the biggest constructors of naval vessels and ships in the Middle East and Africa through the past 8 years, where anything from the size of frigates, oil tankers, to underwater drones, have been constructed and deployed already.

The deal with the Italian compatriots will most likely include transfer of technology, expertise, and other positive factors for the shipyard.