Amico & Co Secures Genoa Concession to 2060 with €97m Investment Programme

Amico & Co has secured a new concession for its Genoa superyacht refit site running to 31 December 2060, giving the yard a substantially longer horizon for infrastructure planning. The agreement also combines the two port areas used by the company into a single concession instead of maintaining separate titles with different expiry dates.

One concession replaces two separate timelines

The areas had previously been governed by concessions due to expire at the end of 2029 and in December 2039. The new title concludes a process that began with applications submitted by Amico & Co from 2020 and aligns the concession period with the scale and lifespan of the infrastructure required by a major refit operation.

For a shipyard serving large yachts, that longer tenure matters because dry-docking, lifting, covered work areas, utilities and waterfront infrastructure require investment horizons measured in decades rather than seasons. The concession therefore gives Amico & Co greater certainty as it plans the next phase of its Genoa operation.

Investment programme reaches about €97 million

The concession takes account of around €63 million of investment already completed and a further €34 million included in the company's latest business plan. Together, those commitments bring the programme associated with the site to approximately €97 million, with much of the spending directed towards infrastructure.

Because the yard operates on state-owned port land, much of that infrastructure is intended ultimately to remain part of the public maritime estate. The arrangement therefore links Amico & Co's private investment programme with the longer-term industrial planning of the Port of Genoa.

Long-term capacity becomes a competitive asset

Chief executive Bruno Guglielmini has indicated that additional infrastructure will still be needed if the yard is to remain competitive as the international refit market evolves. Amico & Co is already preparing further proposals for a new business plan that will require assessment alongside the port's wider development strategy.

The timing is significant as the Mediterranean refit sector competes for increasingly large and technically demanding yachts. Long-duration access to waterfront land gives established yards more scope to commit capital to facilities that cannot be replicated quickly, particularly where projects require heavy infrastructure and extended yard periods.

For Genoa, the concession secures a major superyacht refit operator within the city's industrial waterfront well beyond the current investment cycle. For Amico & Co, it turns the existing programme into a platform for another three decades of development rather than a sequence of shorter concession decisions.