(Alliance News) - Fincantieri Spa announced Monday that its Norwegian subsidiary Vard has signed a USD200 million contract for the design and construction of a state-of-the-art hybrid cable-laying ship for Japanese company Toyo Construction.

The vessel, which will be 150 meters long and 28 meters wide, "will have a design specially developed for the customer's needs aimed at meeting the growing market for Japanese offshore wind farms and will also be able to operate worldwide," the company specified in a note.

The new vessel will be built at Vard Shipyards and will be delivered in the second quarter of 2026.

Fincantieri trades in the red by 1.6 percent at EUR0.54 per share.

By Chiara Bruschi, Alliance News reporter

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