IJmuiden Scheme to Cost More Than Expected

Based on the latest available information, Royal BAM Group expects a considerable project loss in 2017 on the sea lock IJmuiden.

Rijkswaterstaat awarded the OpenIJ consortium the contract to design, construct, finance and maintain a new sea lock at IJmuiden in mid-2015.

The contract value is approximately €600 million. Construction activities are carried out by a 50/50 joint venture between BAM and VolkerWessels.

According to Royal BAM, the loss mainly relates to the redesign of the two caissons (the construction holding the lock doors) to prevent torsion and cracking during immersion. The new design specified reinforced caissons and heavy temporary structures.

BAM CEO Rob van Wingerden commented: “We are very disappointed with this significant cost overrun. We are working with our joint venture partner in close consultation with the client to deliver this important project for the Amsterdam region. Despite this setback we remain confident we are on the right track to realize our strategic ambitions.

Recent implementation works revealed significantly higher costs for specialist materials and equipment and personnel over the prolonged construction period. For BAM, this will lead to an estimated additional project loss of around €55 million in the fourth quarter 2017. As a consequence, the company expects an adjusted result before tax for the full year 2017 which will be substantially lower compared to 2016.

 

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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