Barrera’s Cruise for Ritz will employ more than 600 people up to the end of 2019

The Shipyard, who has already begun the selection of equipment and auxiliary business, aim to sign a second unit this year.

Hijos de J. Barreras, shipyard from Vigo, has already started to select the auxiliary industries and equipment’s manufacturers that will take part on the construction of the first of the three luxury cuisses for the new shipping line of American Ritz-Carlton hotel chain (Ritz-Carlton Yacht Collection).
Factory and shipowner Managers made yesterday official in Vigo the contract of the first ship, which will have 190 m-Length and will cost around € 250 Million, and is to be delivered on the last three months of 2019. The investment fund Oaktree, Douglas Prothero shipowners and Lars Classen are its promoters.
José García Costas, the President of Barreras Administration council, has calculated this ship will employ an average of between 600 to 800 workers during its construction life, and it is expected to sign a second unit ‘before the end of the year’.
Before choosing Barreras, Ritz-Carlton requested quotations to a total of 17 European naval factories, according to enquired sources, but only three shipyards got to the final phase, where the firm from Vigo prevail due to its ‘open and professional management’, the ‘big capacity’ of the Gallaecian auxiliary industry and the ‘good credit terms in finance matters’. Up to six Spanish banking entities (CaixaBank, Abanca, Banca March, Ibercaja, SabadellGallego and Pastor-Popular) will take part on this deal with a Tax Lease system organized by CaixaBank and Banca March. It has also got the ICO Credit (Administration Credit Institute), CESCE (Spanish Credit Insurance Company for Exporting) and IGAPE’s support.
Alberto Núñez Feijóo, the Local Government President, celebrates Barrera’s entrance in a new market and with growing perspectives. ‘To finance more than €250 Million is a wager not done before by this shipyard or in Galicia’, he pointed out about the operation. Feijóo, accompanied by the counselor Francisco Conde, confirmed that the contract corroborates the Gallaecian Naval recovery and he encouraged Barreras to get an ‘A with Honors’ on this vessel to turn Galicia over to an international reference within the luxury cruiser segment.

(Source: Faro de Vigo)