Monaco is opening a new facility for the upkeep and repairs of the world's megayachts, and enhances Monaco's already fabled image.
The shipyard, which has taken two years to build, will be the largest megayacht facility in the Mediterranean and is an impressive 35,000 square metres capable of taking fourteen 40 to 80 metre yachts.
Bearing in mind the size and weight of the yachts, the new facility can hoist and transfer one in half an hour.
The owners of the shipyard have invested 45 million Euros to make sure it is state of the art, and as well as major repairs can do painting and full servicing as part of its services.
The number of megayachts has increased dramatically in recent years, and Monaco has been quick to ensure that the wealthy owners, often nouveau riche, see her as in the same light as old money and the established European and US wealthy families, who frequent Monaco and the Monte Carlo casino.
Monaco ensured the attention of the yacht owners by cleverly staging the annual Monaco Yacht Show, the only one of its type, specialising in Megayachts, held in the principality each September.
As well as the legendary Monte Carlo casino, Monaco is a tax haven and home to the Monaco Grand Prix, F1's most prestigious race in their calendar.
For a country with a long tradition of welcoming the wealthy, it comes as a surprise to many that Monaco is also in the forefront of the battle to save the environment.
Monaco Yact Show
The environment campaign began shortly after Prince Albert became Sovereign with the Monaco Yacht Show 2005, held each September, with the event successfully becoming carbon neutral. To encourage the thousands who commute to Monaco every day from neighbouring France and Italy the railway station is one of the best in Europe, with frequent and reliable services.
'For those who work in Monte Carlo and travel in from Nice and her surrounding villages five days a week, it's both cheaper and quicker to take the train - the trains are modern and comfortable and it's rare for seats not to be available even during the rush hour', claim a Monaco travel guide, 'Once people are in Monaco the local transport service is equally quick and efficient. Virtually all routes are well planned and easy to understand, and the most you have to wait for a bus is ten minutes, often it's just a couple of minutes - which isn't exactly a hardship given the weather in Monte Carlo!'
With many major companies and the banks in Monaco also looking to see how they can improve their own environmental records the business community view the steps as prudent ones.
The routes are planned to incorporate tourist needs, with many passing by the Hotel de Paris in Casino Square and the Columbus in Fontvieille, two of the best known and popular Monaco hotels. Fares have been reduced to one Euro, making public transport in Monaco among the lowest priced, comfortable and frequent in Europe.
With the overall aim to increase bus usage by 20 per cent, the Principality is also funding five new duplex trains with a thirty per cent increase in train services, and in an innovative attempt to persuade commuters to leave their cars at home will provide free electric cycles at car park schemes.
'The one time of year you might see fast cars being encouraged is of course for the Monaco Grand Prix in May', conclude the guide for Monaco, 'But overall it's Prince Albert who will be able to claim the winners rostrum among European leaders for the environment.'