Linea Directa 200 LEFT COL CAR INSURANCE

PROPERTY SEARCH

DomusVi Ciudad de Murcia residential cross content 1200

Date Published: 20/12/2024

Spain to buy famous British shipyard where Titanic was built

After months of negotiations, the Spanish group has agreed to purchase the British shipyard Harland & Wolff

A piece of maritime history is about to embark on a new chapter as Spanish shipbuilding powerhouse Navantia has struck a deal to buy Harland & Wolff, the iconic British shipyard, based in Belfast, famous for building the Titanic.

The acquisition is set to rescue the shipyard from financial distress after months of high-stakes negotiations.

Though exact figures remain undisclosed, several UK media outlets report that the sale is valued at around 85 million euros.

The agreement, announced this week by the British government, represents a significant lifeline for Harland & Wolff, which has been in receivership since September. The deal also secures 1,000 jobs across the United Kingdom, spanning shipyards in Belfast, Appledore (England), Methil and Arnish (Scotland).

Described as an "important vote of confidence" by UK Minister Jonathan Reynolds, the deal not only safeguards the workforce but also paves the way for future investments.

For Navantia, the acquisition strengthens its position in the British market and ensures continuity for the Fleet Solid Support (FSS) shipbuilding program - a 2 billion euro contract to build three massive logistical support vessels for the Royal Navy’s Aircraft Carrier Group.

This mammoth project, which will create around 1,600 jobs, is a joint venture between the Puerto Real shipyard in Cádiz, the Harland & Wolff facilities in Belfast and Appledore in England.

The ships, destined for the Royal Auxiliary fleet, will each measure 216 metres long and weigh 39,000 tonnes.

According to Navantia, it represents "the largest export contract in the company's history".

Based on this contract to build the three Royal Navy ships, Navantia has reportedly requested an additional 360 million euros from the British government as effective compensation for rescuing Harland and Wolff.

In other news: The magic of Spain's Christmas lottery: El Gordo traditions and superstitions

Image: Harland & Wolff

Linea Directa Bottom Article M-Z CAR INSURANCE

staff.inc.and

Sign up for the Spanish News Today Editors Roundup Weekly Bulletin and get an email with all the week’s news straight to your inbox

Special offer: Subscribe now for 25% off (36.95 euros for 48 Bulletins)