Today at Cemre shipyard in Turkey, CMAL signed the contract to build two new ferries to support the communities at Uig, Lochmaddy and Tarbert (Harris).
We now enter into a 20-day period during which time the shipyard needs to put the Bank Refund Guarantee in place. As is standard industry practice, the shipyard must provide a signed contract to their banking partner to gain credit committee approval. The contract is not finalised until the guarantee is confirmed.
Further updates on the project can be found here.