The steel hull of the 50m project has been moved to Ferretti’s superyacht yard in Ancona where it is expected to be completed in 2018. Arlene Sloan reports.

Riva Superyacht Division  has moved the first hull of its new 50m model into its interim quarters at the Ferretti superyacht yard in Ancona, Italy, where all of the Group’s 28-90m yachts in light alloy, steel and fibreglass are built.

Scheduled for delivery in 2018, the premiere Riva 50m has a maximum beam of 9m, a steel and aluminium hull, and four decks accommodating 12 guests, with an entirely customizable layout and interior design.

The idea for a steel superyacht for the Riva brand was originally conceived by founder Carlo Riva in the 70s.

“Today was a memorable day for Riva, and we are happy we have started to write a new chapter in our history that began over a hundred years ago”, comments Ferretti Group CEO Alberto Galassi.  “I am proud to be leading a group of true professionals who are turning the dream of Carlo Riva into something tangible.”

Riva is one of seven brands of the Ferretti Group, an international builder of motorboats ranging from runabouts to superyachts including Ferretti Yachts, Pershing, Itama, Mochi Craft, CRN and Custom Line.

The Riva 50m is part of a three-year, €50 million investment and new product development program that will see 24 new models launched across the Group between 2016-18. Further details can be found in an article published by Superyacht Business’ sister title IBI.

Italy’s Ferretti Group is in the midst of a significant financial turnaround. Consolidated turnover for the Group was €413m for the financial year ending 2015, a 25% improvement over the previous year.

The company has forecast turnover of approximately €488m for 2016, and a return to profitability in 2017.  For more details on Ferretti Group financials, including a graph of company turnover between 2007 and 2014, IBI Plus subscribers have full access to this report.

The Riva 50m project is a collaboration between Officina Italiana Design (the studio of Mauro Micheli and Sergio Beretta which designs the entire Riva range), Riva SYD Engineering, and Ferretti Group’s Product Strategy Committee.