The construction work has started on Sif’s EUR 328 million expansion of manufacturing facilities in Rotterdam, the Netherlands.
According to the Netherlands-based offshore foundations manufacturer Sif Group, key contracts with contractors and equipment suppliers were signed.
For civil and building works, Sif contracted DURA Vermeer. Steelworks are contracted to Iemants Eiffage.
All parties operate in collaborative contracting and have started preparation works with the first activities on site already ongoing.
Critical manufacturing process systems like plate preparation equipment, rollers, welding equipment, and rollerblades were ordered and it is expected that approximately EUR 150 million of envisaged capex will be spent in 2023 with the remainder due for 2024.
In addition, immediately after the EGM of 28 March to approve the revision of the company’s articles of association, 50,000 cumulative preferred shares were issued and EUR 50 million was paid-up by Equinor Renewables BV, Sif said.
The cumulative preferred shares have a coupon of five per cent with a gradual step-up from July 2025 to eight per cent as of July 2028.
Sif made the Final Investment Decision to construct the world’s largest monopile foundation manufacturing plant on 14 February.
The plant will be built at the 62-hectare Maasvlakte 2 site in Rotterdam as an extension of Sif’s existing facilities. The first manufacturing operations for the facility are scheduled to start in the second half of 2024.
The upgraded manufacturing plant is expected to increase the total combined capacity of Sif to 500 kilotons a year and upgrade Sif’s capabilities to manufacture the equivalent of 200 XXXL, 11-metre diameter, 2,500 tonnes reference monopile foundations a year.