The money will be used by the Tasmania-based shipbuilder to finance the construction of the world’s first dual fuel, high speed passenger catamaran capable of operating on either LNG or diesel, which is expected to be delivered to Incat’s South American customer Buquebus by October 2012.
“Recognising the innovative product, the contract size and the benefits of having this world-first vessel constructed locally in Hobart, Tasmania, EFIC worked with ANZ to provide a construction finance facility that will enable Incat to deliver on the contract,” said EFIC’s Executive Director, Origination and Portfolio Management, Peter Field.
Besides EFIC’s funds, Incat has received support from ANZ to build the LNG ferry. “EFIC’s partnership with ANZ has delivered a great outcome for all parties involved,” remarked ANZ Head of Structured Export Finance, Paul Richards.
Source: EFIC
