Harland & Wolff lands new £9.6m barge contract for Belfast

Harland & Wolff has been awarded a second contract worth £9.6 million by Riverside Energy Park Limited, part of the Cory Group for the fabrication of 12 barges.

The deal comes just over a month after the shipyard landed an £8.5m contract with the same firm for the fabrication of 11 barges. The barges will be used to transport recyclable and non-recyclable waste on the River Thames. The contract award is subject to Cory reaching financial close on its Riverside 2 development, which will include an Energy from Waste (EfW) facility that will be adjacent to Cory’s existing EfW facility and will be one of the largest and most efficient in the UK.

Fabrication will again take place at Harland & Wolff’s Belfast site. A production line has been set up at the Belfast facility that will provide seamless delivery of the 23 barges in total. Revenues from this additional contract are expected to be delivered in 2023, further underpinning the Group’s contracted revenues for that year, which now sit at c£40m. The Company continues to trade in line with market expectations for 2022.

Harland & Wolff, Group CEO John Wood, said: “We are pleased that Cory has once again chosen Harland & Wolff to fabricate these new barges. Fabrication facilities require a constant stream of work in order to create economies of scale and derive operational efficiencies. We have set up a semi-automated production line for the first Cory contract and with the award of the second contract, we will be able to drive through further efficiencies in the fabrication process.”