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Costa Concordia Salvage to Cost $623 Million, Sunday Times Says

Aug. 25 (Bloomberg) -- Costa Concordia, the luxury cruiser that capsized off the Italian coast last year, will be put back on its keel next month in a complex maneuver that will cost 400 million pounds ($623 million), the Sunday Times reported.

The operation to lift the 952-foot (290-meter), 114,500-ton ship will be undertaken in one day. The liner will rest on underwater platforms built under the hull using 18,000 tons of cement, the newspaper reported, citing Nick Sloane, the South African engineer heading the team of 500 salvage workers.

The Costa Concordia struck a rock off the western coast of Italy in January 2012, leaving 32 dead. Captain Francesco Schettino was indicted in May on charges of manslaughter and abandoning the ship while many of the 4,200 passengers and crew were still on board.

To contact the reporter on this story: Morgane Lapeyre in London at mlapeyre@bloomberg.net

To contact the editor responsible for this story: Heather Langan at hlangan@bloomberg.net

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