Tankoa Yachts has officially opened its new shipyard in the La Mattonara area of Civitavecchia, Italy. This week’s inauguration event included a ribbon-cutting ceremony attended by local authorities and industry representatives.

Pino Musolino, president of the Port System Authority of the Central Northern Tyrrhenian Sea began the occasion by requesting everyone to “not call this shipyard ‘ex Privilege’ anymore, but only Tankoa,” referring to the previous Privilege Yard, which ceased operations a decade ago due to financial difficulties.

The site previously housed the incomplete P430 megayacht, which remains unfinished adjacent to the new Tankoa facility. The Ligurian shipyard currently holds a four-year concession for the area.

“The previous events – including the subsequent bankruptcy of Konig srl, which had committed to completing the P430 – have forced us to be cautious about the timing of the concession, but we are sure that the choice of Tankoa Yachts marks an important step forward for the relaunch of the port area of Civitavecchia and that the renewal in four years will come naturally,” adds Musolino.

Tankoa executives remain optimistic, however. Vincenzo Poerio, CEO of Tankoa Yachts explains that the firm’s turnover quadrupled between 2020 and 2023, signalling good financial health for the years ahead.

“We have already invested over five million euros to make an abandoned structure operational, where we already employ 70 people for the carpentry work needed to build the hulls and decks of our yachts, but which at full capacity will be able to provide even more employment,” says Poerio. “At the moment, the construction of three units has already begun, which once completed will be launched in the port of Civitavecchia and then taken to Genoa, to the main headquarters of Tankoa Yachts, for fitting out.”

The opening of the new shipyard ends a period of limited production activity in Civitavecchia’s port over the past decade. The La Mattonara facility is expected to contribute to local employment and skills development, aligning with broader economic development goals for the area.

The Italian shipbuilder specialises in yachts ranging from 40 to 70 metres, with the additional shipyard now expected to significantly enhance production capacity, allowing it to manage up to 12 orders simultaneously from design to completion and aiming for four deliveries each year.

The shipyard also plans to develop the port area of Civitavecchia into a hub for superyacht construction and expand its refitting services for large pleasure crafts. The company has already requested the development of a dedicated pier within the port to support these activities, which is pending approval from the Port Authority.

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