Italian shipbuilder Fincantieri and the Krylov State Research Centre of Russia have signed a framework agreement to jointly develop new projects for technological innovation within the shipbuilding research.

Under the agreement, both the parties will undertake a series of initiatives in their respective areas of operation, including joint research and development activities.

The deal, which has an initial period of five years, will also see the introduction of new generation products and the provision of services.

Krylov is expected to benefit from Fincantieri’s knowledge of technological and manufacturing know-how of complex vessels, while Fincantieri is expected to benefit from Krylov Centre’s R&D knowledge of high-tech vessels and offshore engineering structures.

Krylov State Research Centre director general Andrey Vladimirovich Dutov said "I believe that cooperation between our companies, supported by unique scientific expertise and the state-of-the-art research & testing facilities of the Krylov Centre combined with strong experience of Fincantieri in design and construction of sophisticated vessels, will contribute to synergy in development of high-end offshore engineering structures and result in successful implementation thereof in the global shipbuilding market".

The first project involving joint activities related to high-technology vessels will be defined soon.

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By GlobalData

Fincantieri CEO Giuseppe Bono said the company considers the agreement to be strategically important.

"We have always maintained that technological innovation, an unparalleled driver of development, is essential for dealing with a devastating crisis like the current one that has changed the global scenario," Bono said.

"The partnership with our Russian friends can only help us to progress in this direction, allowing us to improve still further and consolidate the excellence and leadership achieved."