(Alliance News) - Fincantieri Spa announced Wednesday that its subsidiary Vard and Island Offshore, a Norwegian shipowner operating in the oil and gas market, have signed a contract for the design and construction of a state-of-the-art hybrid-powered Ocean Energy Construction Vessel.

The vessel will be delivered in the first quarter of 2027, will be 120 meters long and 25 meters wide, and will have a flexible configuration depending on the specific operations the vessel needs to perform. It will perform subsea operations, including inspection, maintenance and repair, pipe laying, construction and installation of subsea infrastructure, dive support and remotely controlled underwater inspection equipment.

Fincantieri closed Wednesday in the red 0.3 percent to EUR0.68 per share.

By Chiara Bruschi, Alliance News reporter

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