Displaying items by tag: Owner Payment

3rd May 2020

Shipyard Owner of Harland & Wolff Misses Final Payment `Due to Covid-19 Distruption'

Harland & Wolff has received inquiries from `several cruise ship owners... unable to operate their fleet during the Covid-19 crisis'.

InfraStrata the energy firm has asked for an extension from Harland and Wolff administrators to pay the final instalment for its purchase of the Belfast shipyard - due last Thursday - blaming the coronavirus pandemic.

The company still has £1.45m outstanding from the £5.25m deal which rescued the iconic company from closure.

However, it did not make yesterday's payment, saying it had been affected by the pandemic and worldwide lockdown restrictions.

"Given the current Covid-19 situation, the company has formally requested the administrators for an extension period in order to pay the final amount of the consideration," it said.

"Positive discussions are continuing with the administrators to determine an optimum time frame for the company to complete this final tranche of payment. The company will make an announcement as soon as an agreement has been reached."

More on this story from the Irish News here

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Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.