Belfast shipmaker Harland & Wolff Group Holdings PLC (AIM:HARL) is drawing up plans to build and operate two ferries on the Penzance to Scilly ferry route off the coast of Cornwall.
An inter-island vessel is also set to commence operations in spring 2025, the AIM-listed company today stated.
Plans are underway to apply for levelling up funding, in collaboration with approved partners such as local councils, for the vessel construction.
Furthermore, Harland & Wolff aims to secure a licence to operate on the Penzance to Scilly route.
The operational plan outlines an initial five-year period, with a potential extension of another five years, contingent on meeting government-set performance targets.
Given the Isles of Scilly's isolated location and the islanders' dependence on these ferries for daily transportation, it's crucial that the vessels are technically apt, especially during the challenging winter months.
Harland & Wolff's proposal aims to deliver these services cost-effectively, catering not just to the residents but also to the summer tourists, which would help to boost the islands' economy.
No concrete funding plans have been secured as of now.