James Fisher - decommissioning contract hints at big opportunities away from oil and gas
The leading Marine Services Company yesterday announced that a consortium of which its subsidiary James Fisher Nuclear ("JFN") is part, has been awarded a £150m decommissioning contract by Sellafield Limited.
The significant contract alludes to the huge opportunities outside the Group's traditional oil and gas markets.
The consortium is led by M+W Group (http://www.mwgroup.net) and the contract is for the design and delivery of a purpose built nuclear waste store and the construction of a new Direct Import Facility to handle radioactive waste. The project will commence this year and is scheduled for completion in 2017. JFN represents 25% of the value of the consortium. Management commented how the contract is testament to the Group’s specific design expertise in remote handling for the nuclear industry and demonstrates that James Fisher Nuclear has become a specialist tier 2 supplier to the UK nuclear industry. The Group’s interim…