Boskalis receives EUR 300 million Letter of Award for Singapore Finger Pier 3 development
February 21 2018 - 4:51AM
Papendrecht, 21 February 2018
Royal Boskalis Westminster N.V. (Boskalis) has
received a Letter of Award from the Maritime and Port Authority of
Singapore (MPA) for the port development project Tuas Terminal
Phase II in Singapore, also referred to as Tuas Terminal Finger
Pier 3. The contract value for the consortium, including Penta
Ocean Construction Company and Hyundai Engineering &
Construction Company, is approximately SGD 1.46 billion. Boskalis'
share in the consortium is 30% with a corresponding contract value
of approximately EUR 300 million. The contract is expected to
be finalized in the next few weeks after the Chinese New Year.
The Tuas Terminal Phase II development is a part
of the Tuas Port project and includes the design and construction
of 387 hectares of land reclamation works bounded by 9.1 kilometers
of caisson walls. The nearly 30 meter high caissons designed for
this project will be amongst the largest ever used in the
world.
Boskalis will execute various dredging and civil
engineering activities within the above scope, including the
deepening of the port basin and access channel, dredging of a
sandkey and managing the supply of sand to create the new land. The
dredging and land reclamation activities will be executed with a
combination of a medium-sized trailing suction hopper dredger, grab
and backhoe dredgers and long-distance bulk carriers.
The activities will commence in the coming weeks.
The construction activities will take place over a 9 year time
frame and are expected to be completed in 2027.
The Boskalis strategy is designed to benefit from
the key macro-economic drivers that fuel global demand in our
selected markets: global trade, increasing energy consumption,
population growth and the challenges of changing climate
conditions. This project is driven by the growth in global
trade.
For further information
Investor relations:
Martijn L.D. Schuttevâer
ir@boskalis.com
Press:
Arno Schikker
press@boskalis.com
T +31 78 6969310
This is a
Boskalis press release on the grounds of article 17 paragraph 1 of
the European Market Abuse Regulation (596/2014).
Royal Boskalis
Westminster N.V. is a leading global services provider operating in
the dredging, maritime infrastructure and maritime services
sectors. The company provides creative and innovative all-round
solutions to infrastructural challenges in the maritime, coastal
and delta regions of the world with services including the
construction and maintenance of ports and waterways, land
reclamation, coastal defense and riverbank protection. In addition,
Boskalis offers a wide variety of marine services and contracting
for the oil and gas sector and offshore wind industry as well as
salvage solutions (SMIT Salvage). Furthermore, Boskalis has a
number of strategic partnerships in harbor towage and terminal
services (Kotug Smit Towage, Keppel Smit Towage, Saam Smit Towage
and Smit Lamnalco). With a versatile fleet of more than 900 vessels
and floating equipment and 11,700 employees, including associated
companies, Boskalis operates in 90 countries across six
continents.
This press release can also be found on our
website www.boskalis.com.
pdf version press release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Koninklijke Boskalis Westminster N.V. via
Globenewswire
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