ABB Ltd. to Power Damen Shipyards Group's New Diamond Recovery Vessel
July 13 2020 - 05:50AM
Dow Jones News
By Cecilia Butini
ABB Ltd. said Monday that it has won a contract to supply an
advanced power system for Damen Shipyards Group's newest diamond
recovery vessel.
The Swiss engineering company said the vessel, which is
currently under construction on the Black Sea in Romania, will be
delivered in 2022 to Debmarine Namibia, a joint venture between the
government of Namibia and diamond company De Beers Group.
The financial details of the deal weren't disclosed, according
to ABB.
The vessel, which will deploy a subsea technique to recover
diamonds from the seabed, will reach a total cost of $468 million
and become the largest and most technologically-advanced diamond
recovery vessel, ABB said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 13, 2020 05:35 ET (09:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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