VARD, one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that the contract signed 15 December 2023 for the construction of a state-of-the-art cable laying vessel, was with the Swedish company NKT HV Cables AB. The value of the contract is between EUR 200 – 250m.

NKT HV Cables AB is a turn-key power cable manufacturer and installation company with its main office in Karlskrona, Sweden. They are part of the Danish company NKT A/S which is listed on Nasdaq Copenhagen. With offices and production sites in more than 16 countries and over
4 500 employees, NKT connects a greener world with high-quality power cable technology. NKT designs, manufactures, and installs high, medium, and low voltage power cable solutions enabling sustainable energy transmission.

Roy Arne Stavik, SVP Sales and Marketing in VARD welcomes NKT as a customer to VARD:

– We thank NTK HV Cables AB for the opportunity to build this state-of-the-art cable laying vessel. In VARD we are committed to help customers reduce risk through our unique global value chain and long track record in delivering complex and customized vessels, such as this cable lay vessel for power cable. We have established us as the leading actor in the cable layer market and will deliver as planned.

The hull for the cable laying vessel will be built at Vard Tulcea in Romania and outfitted and delivered from one of VARD’s yards in Norway in Q4 2026. The design of the vessel is by the Norwegian company Salt Ship Design AS.