Vard inks €250m cable layer deal

The contract was signed on 15 December 2023 and is worth between €200-€250 million.

Roy Arne Stavik, senior vice president of sales and marketing in VARD welcomed the opportunity to build the new vessel.

“In VARD we are committed to help customers reduce risk through our unique global value chain and long track record in delivering complex and customised vessels, such as this cable lay vessel for power cable,” he said.

“We have established ourselves as the leading actor in the cable layer market and will deliver as planned.”

Part of Danish company, NKT, NKT HV Cables is a turn-key power cable manufacturer and installation company with its main office in Karlskrona, Sweden.

The company has offices and production sites in more than 16 countries and over 4,500 employees. NKT designs, manufactures and installs high, medium, and low voltage power cable solutions enabling sustainable energy transmission.

The hull for the cable laying vessel will be built at Vard Tulcea in Romania and outfitted and delivered from one of VARD’s yards in Norway in Q4 2026. The design of the vessel is by the Norwegian company Salt Ship Design.