The project of the remake of the Yacht Eugenia, started in 1997. The collaboration Pro Kimitoö-skutan was founded and started collecting funders and sponsors for the project. Over 90 companies and collaborations, fourteen different authorities and foundations and more than seventeen private persons funded the project.

Bertil Bonn was hired as the constructor and Erik Österberg with over 20 years experience in building wooden boats as the shipbuilder. The carpenter Igge Sharin and 20 students as well as around 30 voluntary workers helped in the building of the yacht. The yacht was finished in Västanfjärd 1999 and 2000 Eugenia was ready for its first sail.