Harland & Wolff Group Holdings PLC (AIM:HARL), operator of the iconic Port of Belfast dockyard, has been awarded preferred bidder status for the Falkland Islands Port Replacement Project issued by the Falkland Islands Government.
Its directors believe the project could generate total revenues between £100 million and £120 million over two years, with works on the project expected to commence this year.
Pending successful negotiations, Harland & Wolff will build, transport and install four floating pontoons of approximately 90 metres each in the Falkland Islands.
It’s a welcome development for the shipbuilding and fabrication firm after having its bid approach for an Isles of Scilly Steamship Company contract rejected in November.
Chief executive John Wood commented: "Following a competitive bid process, I am delighted that the Falkland Islands Government has selected Harland & Wolff as preferred bidder for this project.
“The company enjoys an excellent relationship and a rich heritage with the Falkland Islands given that Harland and Wolff built the six linked barges which make up the existing port facility 45 years ago.
“I look forward to working closely with the Falkland Islands Government and bringing this contract to fruition."
Harland & Wolff’s London-listed shares jumped 11% on the news.