The Bahrain Economic Development Board (EDB) has signed a Memorandum of Understanding (MoU) with Italian shipbuilder Rodriquez Cantieri Navali to establish a manufacturing facility in Bahrain.

Rodriquez specializes in the construction of technologically advanced and innovative fast ships for the commercial, military and yacht markets. The agreement between the EDB and Rodriquez seeks to combine resources and relationships to further strengthen Bahrain's position as a regional leader in the marine industry.

Michele Colaninno, CEO of the Immsi Group which controls Rodriquez, and Livio Corghi, Chief Executive of Rodriquez, said at the signing: "This is an exciting opportunity for us. Having established three yards across Italy and a yard in Rio de Janeiro in Brazil, this agreement with Bahrain, as the gateway to the Gulf and its trillion dollar market, provides a platform to diversify in to a whole new region."

November 17, 2011