(Alliance News) - Fincantieri Spa announced Tuesday that it and the Alexandria shipyard signed a Memorandum of Understanding in Doha, Qatar.

The MoU is aimed at defining the principles for discussions that will focus on finding new opportunities with the Alexandria shipyard to build new ships, the company explained in a note. In particular, the collaboration will focus on possible new defense ship programs will be of different types.

The Alexandria shipyard is the largest in Egypt and Africa and one of the largest among Arab countries.

Fincantieri trades in the green by 4.2 percent at EUR0.60 per share.

By Claudia Cavaliere, Alliance News reporter

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