Sif Holding (Sif) has announces its €328 million Final Investment Decision (FID) to construct an upgraded monopile foundation manufacturing plant in Rotterdam, the Netherlands. Construction is expected to start in April 2023.
The upgraded manufacturing plant will increase the total combined capacity of Sif to 500 kilotons a year and upgrade Sif’s capabilities to manufacture the equivalent of 200 XXXL, 11 meter diameter, 2,500 tons reference monopile foundations a year. Once the expanded manufacturing plant is fully ramped-up, which is expected in the first half of 2025, the Company projects EBITDA of €135 million in 2025 and of at least €160 million per annum from 2026 onwards. This results in a payback period of 3-4 years. FID is subject to various customary conditions and to the granting of an irrevocable building permit (‘Omgevingsvergunning voor de activiteit bouwen’). All relevant procedures are on schedule for the start of the construction activities.