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Infrastrata signs letter of intent with Triumph Subsea Services to build windfarm development vessels
StockMarketWire.com
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Infrastructure company Infrastrata said it had signed a letter of intent with Triumph Subsea Services to build two windfarm development vessels.
Under the terms of the LoI, InfraStrata's subsidiary, Harland & Wolff, would be responsible for the build, assembly and delivery of the vessels.
The letter of itent initially 'contemplates the build of one vessel, with Triumph having an option for an additional vessel to be built at Harland & Wolff,' the company said.
Once contracted, each vessel would be expected to generate revenues for Harland & Wolff of between £340 million and £360 million over the 24-to-30 month period of fabrication, followed by additional revenues if further through-life support contracts are secured.
Whilst both parties intend on executing a contract to build the vessels by the end of June 2021, the letter of intent did not including any binding obligations on either party, the company said.
At 9:07am: (LON:INFA) Infrastrata PLC share price was 0p at 36.75p
Story provided by StockMarketWire.com
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