Date: 1 October 2007
Royal Boskalis Westminster nv has received a letter of intent from Abu Dhabi Ports Company for the first construction phase of the new offshore Khalifa Port in Abu Dhabi. Boskalis will execute the project in partnership with its subsidiary, Archirodon, and the Korean company Hyundai. The contract is worth approximately 1.1 billion, with the net share of Boskalis amounting to approximately 670 million. The project will be executed in four and a half years from October 2007 on.
The assignment includes dredging an entrance channel and a harbor basin, the reclamation of a habor island and land for wharfs, the construction of breakwaters as well as a causeway to the island including a bridge. In addition, a jetty and quay walls will be built for container handling and a new aluminum smelter. A total of 44 million m³ of material will be dredged. Boskalis will deploy equipment that includes a number of large cutter suction dredgers and backhoes, as well as a medium-sized hopper dredger.
This project provides Boskalis with a good baseload utilization of its jumbocutters for the coming four years.
Khalifa Port will be a major harbor, handling containers, bulk goods and general freight. More information on Khalifa Port can be found on www.adpc.ae.
The Khalifa Port project relates to the growing global transport of containers and base materials. Main drivers of the maritime transport market are the growth of the global economy and international trade volumes. Similar projects are developed across all continents, for instance in Brazil, the UK, Germany, Holland, the UAE, Korea and Australia.
Royal Boskalis Westminster nv is an international group with a leading position in the world market for dredging services. Its core activities are the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 8,000 employees.
For further information please contact:
Roel Berends - Corporate Relations
Telephone: +31 (0)78 69 69 822 / +31 (0)6 2001 0232
Fax: +31 (0)78 69 69 805
This press release can also be found on our website www.boskalis.com.
For IR matters contact our Director of Investor Relations & Corporate Communications.
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