Harland & Wolff Group Gets GBP61 Million Contract for Vessel Refurbishment
October 20 2023 - 2:06AM
Dow Jones News
By Elena Vardon
Harland & Wolff Group Holdings said it was awarded 61
million-pound ($74.1 million) contract for a major vessel
refurbishment by Canadian oil and natural-gas company Cenovus
Energy.
The U.K. strategic-infrastructure-projects company said Friday
that revenue from the contract are included within management's
revenue expectations of GBP100 million for 2023 and GBP200 million
for 2024. Around GBP10 million is expected to be received in 2023,
with the rest the following year.
The contract award follows a letter of intent issued in late
July
The vessel, which is should arrive in the first quarter of 2024,
will be in its building dock for more than three months.
Pre-arrival works have kicked off and some fabrication works will
start before the end of the year, Harland & Wolff said. Up to
1,000 people will be working on the vessel at its peak, including
staff and subcontractors, it said.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
October 20, 2023 02:51 ET (06:51 GMT)
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