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Vard secures €170m Prysmian contract

By: Matthew White 30/04/2018 Vard

General Vessels

Vard has been selected by Prysmian Group for the design and construction of a new cable laying vessel. The contract value, including owner supplied special equipment, amounts to approximately €170m.

The vessel is intended to feature deep water installation capabilities for depths of more than 2,000m and high cable loading capacity in large cable rotating platforms. The cable layer is developed to perform installation operations, supported by a variety of burial systems, including ploughs, and positioning and seakeeping systems, coupled with a reduced environmental footprint.

With a length of 172m, and a beam of 34m, the vessel will be able to accommodate a crew of 120 persons.

Mr. Roy Reite, CEO and Executive Director of VARD, commented: “It is an honour to welcome Prysmian Group to VARD. Our broad experience in the design and construction of several cable layers and other specialized vessels over the years, combined with Prysmian’s know-how and established experience in advanced submarine cable operations, have been of high value in the development process. We look forward to building this cutting-edge cable layer in close cooperation with our new customer.”

The cable layer will be designed by Vard Design in Ålesund, Norway. VARD and Prysmian are currently completing the vessel’s design and according to contract activation scheme construction is expected to commence by the end of 2018.

The vessel is scheduled for delivery from Vard Brattvaag, Norway during Q4 2020. Several of the Group’s subsidiaries are also involved in the project through deliveries of equipment and solutions.

Mr. Giuseppe Coronella, Chairman of Vard Holdings Limited, commented: "We are proud to have been chosen by Prysmian to contribute to their development plans bringing to life this advanced vessel which will unquestionably make the difference in the deep water cable laying market."

Mr. Massimo Battaini, Prysmian Group SVP Business Energy Project, commented: “This new strategic asset will consolidate Prysmian Group’s leadership in the submarine cable industry, by bolstering turnkey approach, under which we deliver end-to-end EPCI projects, from engineering, manufacturing and installation to full monitoring and diagnostic services.”

Prysmian Group operate in the businesses of underground and submarine cables and systems for power transmission and distribution, of cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors.

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Vard secures €170m Prysmian contract

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