Kvaerner is preparing for a significant growth in its home market and invests approximately NOK 250 million in upgrades of its facilities at Stord. The major investments will be increased lifting and trailing capacity, including a new Goliath gantry crane.

"We have won some major contracts and are preparing for future growth in our home market in the years to come. To further increase our competitiveness it is essential with state of the art facilities and equipment," says Lars Eide, Executive Vice President in Kvaerner.

Promising market outlook The market shows a large number of new projects on the Norwegian Continental Shelf, both onshore and offshore, in the period 2012-2020. However, this market is increasingly competitive with major international competitors trying to capture a position in the North Sea.

"It is important with facilities that can increase our capacity and ensure a flawless project execution and on-time deliveries. In that respect, these investments will be a significant contribution," says Eide.

Tags: Kvaerner