Navantia and InfraStrata Join Forces
Navantia and InfraStrata have signed a Memorandum of Understanding (MoU) under which they plan to cooperate on offshore wind projects, among other things.
Subject to completion of InfraStrata’s acquisition of Harland and Wolff (H&W), the deal envisages the usage of the UK shipyard’s assets for providing a range of services to Navantia.
According to InfraStrata, the MoU is the first step towards formalizing a Teaming Agreement, under which the companies will work together on opportunities in the offshore wind sector, as well as on other offshore and onshore infrastructure projects.
“We are very excited by the opportunity that this MoU presents InfraStrata and the Harland & Wolff business. Navantia is world renowned for its ship-building capabilities and offshore infrastructure expertise and experience, and therefore has access to significant commercial opportunities in these sectors,” said John Wood, Interim Chairman and CEO of InfraStrata.
“The combination of Navantia’s footprint in these sectors and Harland and Wolff’s fabrication and other support capabilities offers the ideal commercial environment to bring large and challenging projects to successful fruition.”
This MoU is non-binding currently and the parties have commenced discussions to formalize the relationship via the binding Teaming Agreement.
To remind, InfraStrata revealed in October that it had entered into an agreement to purchase the principal assets of Harland and Wolff Heavy Industries Ltd and Harland and Wolff Group Plc.
The UK-based company recently opened a share sale to raise a minimum of GBP 6 million to finalize the purchase from administrator BDO NI, which will see it take over a multi-purpose fabrication facility, quaysides and docking facilities in the port of Belfast, Northern Ireland, as well as all plant machinery, equipment and industrial and intellectual property.