An Italian shipbuilder has announced a US $150-million investment for a shipyard in Yucatán as part of the expansion and modernization of the port of Progreso.

The new shipyard will be built by Fincantieri, a multinational company with holdings in Europe, Latin America, the United States and Asia, and will serve as a base for the repair, remodeling and maintenance of large ships.

The project includes a plan to build two enormous masonry docks, which would be the largest in Latin America, the newspaper El Universal reported.

Fincantieri company executives confirmed the plan as Yucatán Governor Mauricio Vila Dosal toured some of their existing shipyards in Monfalcone, Italy.

The governor is currently on an economic promotional tour of Europe that aims to attract investment to the state and reactivate the economy.

Vila also met with and toured other marine industry companies, including ANPA and Marine Interiors, which both manufacture materials and parts used in ship construction and could have a presence in Progreso.

Marine Interiors is one of the leading manufacturers of cabins and bathrooms for cruise ships.

With reports from El Universal and Milenio