DEME Bags Major Contract in Singapore
- Business & Finance
Dredging International, a subsidiary of Belgium’s DEME Group, and South Korean company, Daelim Industrial, have won a $650 million worth contract for the construction of Singapore’s new container port.
According to Daelim, the two companies, under a a joint venture, will perform the first phase of the construction project that includes dredging, land reclamation, and wharf construction works.
The first phase of the new port project in Tuas will be completed by December 2020, said Daelim in a press release. The company also added that the contract for this project was awarded by the Maritime and Port Authority of Singapore.