Papendrecht, 30 October 2015 Royal Boskalis Westminster N.V. (Boskalis) announces that VBMS, its strategic cable-laying joint venture with VolkerWessels, has been awarded two contracts by Galloper Wind Farm Ltd. for the Galloper Offshore Wind Farm. The total value of the contracts to VBMS is approximately EUR 200 million. Boskalis holds a 50% stake in VBMS which under IFRS11 is accounted for as an associated company. VBMS signed a contract for the export cabling, consisting of the supply and installation of two 45 kilometer long export cables connecting the wind farm to the mainland. This project will be executed by VBMS in consortium with a partner. In addition, VBMS was awarded the supply and installation contract for 56 inter-array cables. Installation of the first export cable is scheduled for 2016, followed by the installation of the second export cable and inter-array cables in 2017. The Galloper offshore wind farm will consist of 56 wind turbines and is located about 27 kilometers off the coast of Suffolk, United Kingdom. Boskalis' strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This project is closely related to the development of generating renewable energy due to climate change and increasing energy consumption. FOR FURTHER INFORMATION Investor relations:
Martijn L.D. Schuttevâer
firstname.lastname@example.org T +31 78 6969310 Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world with services including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the offshore energy sector including subsea, heavy transport, lifting and installation (through Boskalis, Dockwise and Fairmount) and towage and salvage (through SMIT). Furthermore, Boskalis has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage, SAAM SMIT Towage and Smit Lamnalco). With a versatile fleet of 1,000 units Boskalis operates in around 75 countries across six continents. Excluding its share in partnerships, Boskalis has approximately 8,500 employees. This press release can also be found on our website www.boskalis.com.
Stay up to date
Enter your email address to receive Boskalis press releases, news and/or financial calendar updates.
IR & Public Relations
For questions concerning our press and news releases contact our Corporate Communications department.