EUR400 Million Deal for Boskalis in Singapore
- Business & Finance
Boskalis has received a Letter of Award from the Housing & Development Board of Singapore for the development of a polder at the north western tip of Pulau Tekong.
The contract value for the joint venture with Penta Ocean Construction Company is approximately EUR800 million of which Boskalis’ share is approximately EUR400 million.
Boskalis and its partner will be responsible for building the required dike closures and reinforcement of the existing dike to create a 10 kilometers long dike, the drainage of the reclamation area and extensive dry earthmoving activities to create Singapore’s first polder.
Commenting this, Peter Berdowski, CEO Boskalis, said: “The award of this sizable project marks a historic moment. Our company has a rich heritage of building dikes and developing polders in the Netherlands, and the creation of this first polder in Southeast Asia is an important new milestone.”
“Over the past decades Boskalis has been active in Singapore reclaiming land enabling the country to grow. The use of polders however creates new opportunities to expand. Through this project we look forward to pushing back boundaries and demonstrating our global leadership position as dredging and marine experts.”
Construction works are set to start in the coming months and will take place over a 4 year time frame.