Loss making Belfast shipbuilder Harland & Wolff, the firm that among other great vessels built the Titanic, has declared itself insolvent after failing to secure funding to continue trading, and will be initiating administration proceedings.
Following the marine-side tender for the replacement of the Falkland Islands port facility, FIPASS, Harland and Wolff were identified as the preferred bidder. Pre-contract negotiations commenced in order to ensure commercial criteria were met and in order to then seek ExCo approval to proceed to necessarily contract to deliver.
The new Labor government gave a clear indication of its policies and course of action this week when it announced at the Farnborough International Air Show a £103 million funding for aerospace projects, supporting greener travel and thousands of jobs across the UK. This contrasts with the rejection of a guarantee loan for the Harland & Wolff shipyard in Belfast.
In a bid to enhance its infrastructure, the Falkland Islands Government (FIG) has taken significant steps towards the replacement of the Stanley port facility, known as FIPASS. Following recent executive council meetings, two pivotal papers have been approved to advance the project.