We are pleased to announce a contract for the construction of one car- and passenger ferry for Boreal in Norway. The new car- and passenger ferry features a fully electrical battery solution for continuous electric operations, and is specially designed for environmentally friendly operations in the Norwegian fjords. The ferry, designed by Multi Maritime, will measure 74 meters in length with a beam of 14.20 meters, and will have a total capacity of up to 60 cars and 199 passengers and crew.
Mr. Roy Reite, CEO and Executive Director of VARD, said: “We are delighted to welcome Boreal as a new client to VARD, and look forward to building the battery-powered ferry, in which we can utilize our strong expertise in battery technology for efficient and environmentally friendly vessels.”
The hull of the vessel will be built by Vard Braila in Romania. Delivery of the ferry is scheduled from Vard Brevik in Norway in 3Q 2019. The ferry will commence operations in Norway from January 2020, crossing Kvanndal-Utne at the west-coast of Norway, where Boreal has been awarded a nine-year contract with the Norwegian government.
Boreal is a leading nationwide public transport provider in Norway. The company operates buses, coaches, trams, high-speed passenger ferries and car ferries. Its subsidiaries Boreal Buss AS, Boreal Sjø AS and Boreal Bane AS, operate public transport services through public sector tender contracts with clients. Boreal has approximately 2,000 employees, and is headquartered in Stavanger, Norway.
The contract has been entered into in the ordinary course of business of the Company. It is not expected to have any material impact on the earnings per share or the net tangible assets per share of the Company for the current financial year. None of the Directors and the controlling shareholders of the Company have any interest, direct or indirect, in the above contract.