Jan De Nul, Payra Port Authority Join Forces in EUR 550 Million Deal
Jan De Nul Group (JDN) and Payra Port Authority (PPA) today signed a joint venture company agreement, worth EUR 550 million, for the Payra Deep-Sea Port dredging project.
The Government of Bangladesh considers the development of Payra Deep-sea Port vital for speedy and efficient development of Bangladesh’s infrastructure, trade and commerce. Successful operation of the new port requires dredging and land reclamation works, JDN said in their release.
Under this agreement, JDN and PPA have set out the basis for their long-term cooperation and it will allow them to begin with the vital first phase dredging works.
In this phase, JDN will deploy up to 9 dredgers of its fleet, amongst which some of the most powerful cutter suction dredgers in the world. They will reclaim more than 13 million cubic meters to create land and dredge more than 60 million cubic meters to kick-start the development of the new Payra Deep-Sea Port.
The Minister of Shipping, Shajahan Khan, Mr. Frank Vanwingh de Credendo and the Belgian Ambassador Jan Luykx attended the signing ceremony.