IKC loses Kursk contract News
// May 18, 2001
Heerema Marine Contractors in the Netherlands says the Russian government has informed the International Kursk Consortium (IKC) - which consists of Heerema Marine Contractors, Smit Tak and Halliburton - that it will be offering the contract for the recovery of the nuclear powered submarine Kursk to another, as yet unspecified, party.The consortium has been negotiating with the Russian government since late last year, but due to delays in securing finance from the Russian government and other contractual conditions, achieving the schedule for completing the recovery of the Kursk thisyear was no longer considered feasible.Heerema says its proposed concept for the work was based on international safety standards and required careful preparation. The consortium partners would not make any concessions to meet these requirements, and say they would not compromise the safety of their crew and equipment or the wreckage of the Kursk, its victims or the environment in order to rush to complete the job this year.IKC envisaged starting preparatory work this summer, with the actual lifting of the submarine from the seabed in June 2002 using Heerema's Thialf, which is equipped with the largest crane of its type in the world, but says that the Russian time scale forthe job was an insurmountable obstacle to doing so.
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