Vard to build 3 Norwegian coast guard vessels for more than 5b kroner

Singapore

SHIPBUILDER Vard Holdings has clinched a contract to build three coast guard vessels for the Norwegian Defence Materiel Agency (NDMA) for more than five billion Norwegian kroner (S$839 million), it announced on Monday.

The Norwegian government had originally announced plans for the construction of the three vessels in September 2016. Following a review of offers from three competing yards, Vard Langsten was selected to continue negotiations in October 2017. The investments were approved by the Norwegian Parliament at the beginning of June 2018, with final negotiations completed in the following weeks.