InfraStrata buys Titanic builder Harland and Wolff Shipyard
Midstream natural gas company InfraStrata announced that it has agreed to buy Titanic builder Harland and Wolff shipyard out of bankruptcy administration.
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