by algowest » October 14, 2024, 9:55 am
Denny-
Regarding Algoma Endeavour, in mid-2023, further financial delays caused the Croatian Government to step in and provide 23.45 million euros in state guarantees. Then, after recent negoations, Algoma stepped in and will provide 14 million euros to enable completion. I believe 3. Maj will also provide $5 million CDN in warranty coverage also, which is typically one year duration. Completion now is set for mid-Feb 2025.
Denny-
Regarding Algoma Endeavour, in mid-2023, further financial delays caused the Croatian Government to step in and provide 23.45 million euros in state guarantees. Then, after recent negoations, Algoma stepped in and will provide 14 million euros to enable completion. I believe 3. Maj will also provide $5 million CDN in warranty coverage also, which is typically one year duration. Completion now is set for mid-Feb 2025.