UK energy infrastructure group InfraStrata opes to save 10-15 percent on capital costs for its previously-announced projects by bringing fabrication in-house at Harland and Wolff. The purchase gives InfraStrata the opportunity of a fabrication facility, a drydock and a quay in Belfast for work supporting the company's own projects, including the Islandmagee gas storage project in Northern Ireland and a proposed FSRU project off Barrow-in-Furness, which will place in England.
Infrastrata has made a down payment of about $615 million to secure the yard. The deal is contingent upon the company securing another $6.8 million in funding to complete the purchase.
John Wood, the CEO of InfraStrata said "Harland and Wolff is a landmark asset and its reputation as one of the finest multi-purpose fabrication facilities in Europe is testament to its highly skilled team in Belfast."
Maritime Business World