IPS Inter Press Service
 
   Inter Press Service News Agency
   
 - Homepage
 - Global Affairs
 - Africa
 - Asia-Pacific
     Afghanistan
     Nepal
     Tsunami
 - Caribbean
      Haiti
 - Europe
      EU Expansion
 - Latin America
 - Mideast &
   Mediterranean
      Iraq
      Israel/Palestine
 - North America
      Neo-Cons
      Bush at War
 
 - Development
      MDGs
      City Voices
      Microcredit
      Corruption
 - Civil Society
 - Globalisation
 - Environment
      Climate Change
      Tierramérica
 - Human Rights
 - Health
      HIV/AIDS
 - Indigenous Peoples
 - Labour
      Decent Work
 - Population
      Reproductive Rights
      Migration&Refugees
 - Arts & Entertainment
 - Columns
 - In Focus
 
 
   ENGLISH
   ESPAÑOL
   FRANÇAIS
   SVENSKA
   ITALIANO
   SWAHILI
   NEDERLANDS
   ARABIC
   SUOMI
   PORTUGUÊS
   JAPANESE

UAE:
Lamprell to Make "Significant Loss" on UK Wind Farm Project
Att.Editors: The following item is from the Emirates News Agency (WAM)

LONDON,Dec 1 (WAM) - The United Arab Emirates (UAE)-based oil rig builder Lamprell has announced that it expects to make a "significant loss" on work for the East Anglia One wind-farm project in the British North Sea.

The company, whose main facilities are at Hamriyyah, Sharjah and Jebel Ali, won a US$ 225 million (AED827 million) contract last year from Scottish Power Renewables for the fabrication and supply of 60 jacket foundations and accompanying piles for the project, with delivery due to take place between March and October next year. The contract was a first major step by Lamprell into the renewable energy business.

In a press release issued yesterday, the company said, "As announced previously, there were start-up costs and inefficiencies in relation to the project and the learning curve has proven to be steeper than anticipated. We remain confident of meeting our client's expectations in terms of schedule and quality but we will incur extra costs to achieve this. As a result, we now expect the project to make a significant loss, which will be booked in 2017."

The company will make an announcement in due course about the financial impact but expects earnings for this year "to be materially below market expectations," the statement said. (WAM) (END/2017)

 

 
 Latest News From WAM
 WAM - United Arab Emirates Agency
 UAE: Emirati Solar Sector Shines Bright, Says Local Press
 YEMEN: Coalition Forces Not Blocking Entry of Humanitarian Aid through Yemeni Airports, Ports
 UAE: Quad Meeting on Yemen Held in Abu Dhabi
 UAE: Foreign Ministry Condemns Terrorist Attack at New York City\'s Main Bus Terminal
MORE >>
 Ultimas Noticias en WAM
 Agencias Del Golfo - Cobertura especial de WAM
 MUJERES: Emiratos lanza campa?ontra el abuso
 SALUD: Dubai lanza iniciativa de tratamiento contra el c?er
 EDUCACI?: Emiratos apoya con importante aporte a Gaza
 EMIRATOS: Jerusal?como esencia de la paz y la estabilidad regional
MORE >>
 Swahili News From WAM
  IPS Swahili
  Uhusiano Dhaifu Kati ya Kuzuia VVU Barani Afrika na Matumizi ya Njia za Uzazi wa Mpango
  Jitihada za Mwanamke Kutafuta Njia Sahihi za Uzazi wa Mpango
  Nini Muhimu Zaidi, Vita juu ya UKIMWI au Vita tu?
  Kusaidia Wanawake Wajawazito Nchini Uganda Kuepuka Mimba Zisizotarajiwa
MORE >>