Orion Group Holdings, Inc. (ORN) has just announced a contract award of approximately $13 million.
According to ORN, the Company’s Marine segment was recently awarded a contract from the Port of Corpus Christi Authority.
The contract calls for Orion to provide dredging services in the La Quinta Channel area of the Port and construct improvements to the local Dredging Material Placement Area (DMPA) to accommodate the material.
“Orion presented a Value Engineering Proposal that will reduce risk while maintaining the integrity of the project schedule. Our team at the Port of Corpus Christi eagerly looks forward to this next step in what has been a meticulously planned out process,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.
“As the fourth largest port in the United States and the leading export location of US crude oil, the Port of Corpus Christi is a strategic customer for Orion,” said Mark Stauffer, Orion President and CEO. “This is our second major contract awarded from the Port this year and we look forward to maintaining a strong position in the area as it continues to grow in importance to our nation’s economy.”
The project is expected to begin late in the fourth quarter 2018 with a duration of approximately ten (10) months.