The UK-based, London Stock Exchange-listed firm specializes in the development, commercialization and operation of advanced, high-value, strategic infrastructure facilities.
The new deal follows InfraStrata’s acquisition of the Harland & Wolff Shipyard in Belfast last year.
“We see Appledore playing a key role in an exciting new era for UK shipyards and shipbuilding; supporting UK industry and revitalizing economic growth in the South West,” said InfraStrata CEO John Wood.
“Our vision is to transform it into a thriving center of excellence that creates jobs, trains apprentices and re-establishes this country at the forefront of a new generation of shipyards,” he added.
The shipyard, which will be known as Harland & Wolff (Appledore), is targeting five distinct sectors; defense, commercial, renewables, cruise & ferry and oil & gas.
“We see enormous growth potential across all of these sectors. Globally, there is an estimated £6bn pipeline of opportunities over the next five years,” said John.
“There is also a large program of sovereign new build smaller vessels planned over the next decade, ideally suited for Appledore, with its prime location and covered drydock and building hall.
“Brexit will provide increased opportunities and additional demand for home-based industries; as part of the Government’s leveling up agenda by investing in UK-wide regions along with the implementation of the National Shipbuilding Strategy, we see a large demand for home-built vessels post 2020.
“This is a once in a lifetime chance to re-build, modernize and re-shape the industry with a new generation of shipyards, which can adapt, move quickly and utilize the expertise of a skilled and highly motivated workforce,” he added.
As part of its new remit, the shipyard will provide complete lifecycle management from technical services, fabrication & construction, to in-service support, repair and maintenance, and conversion all the way to decommissioning. It will also be able to accommodate other projects like steel fabrication for industry and construction.
Jointly the InfraStrata group has the potential of employing 1,550 people – 800 at Harland and Wolff (Belfast), 350 at Harland and Wolff (Appledore), and 400 during the construction phase of the Islandmagee gas storage project.