Multi-Billion New Suez Canal Contracts Announced

A consortium consisting of Van Oord, Royal Boskalis Westminster N.V., NMDC (Abu Dhabi) and Jan de Nul (Belgium) has acquired a contract from the Suez Canal Authorities in connection with the expansion of the Suez Canal, which provides a vital shipping link between Europe and Asia. The total contract value amounts to $1.5 billion, with each partner entitled to an equal share of $375 million. 

The consortium Dredging International NV (75%) – Great Lakes Dredge & Dock Company, LLC (25%) has been awarded second contract, the assignment to deepen and widen the western branch of the Suez Canal at Great Bitter Lake, Deversoir Reach and Kabreet Reach (lot number 6), worth 540 million USD.

Van Oord, Royal Boskalis Westminster N.V., NMDC and Jan de Nul contract includes the construction of the parallel section of the canal with a length of approximately 50 kilometers to allow ships to simultaneously transit in two directions as well as the widening and deepening of a number of existing sections to a depth of 24 meters.

The majority of the dredging activities for the canal expansion will be executed with 17 cutter suction dredgers. The project will commence in 2014 and is expected to be completed in 2015.

The scope of works, awarded to the joint venture – Dredging International NV and Great Lakes Dredge & Dock, include the widening and deepening of the Suez Canal over a length of 25 km and until a depth of -24m. The consortium has committed to execute the works within a very short time frame in accordance with the requirements of president al-Sisi.

Six cutter suction dredgers (4 DI CSD’s and 2 GLDDC CSD’s) and two hopper dredgers (DI) including some auxiliary equipment will be mobilized to perform the job.

Works will start immediately.

Dredging Today Staff