Date: May 15, 2007
Dredging company Royal Boskalis Westminster nv hereby announces that it has won a major contract for the extension of the container port of Balboa, Panama, at the Pacific mouth of the Panama Canal. The work will be done in approximately 15 months from May 2007 on. The contract is worth approximately 50 million.
The project will be executed for Panama Ports Company S.A., a member of the Hutchison Port Holding Group of Hong Kong. The work includes the construction of additional port area, a retaining rock dike and a link structure to the existing berths 16 and 17. Boskalis will deploy its American trailing suction hopper 'Stuyvesant', a large backhoe and a few transport barges for this job. The civil works will be executed by the Panamanian partner Intercoastal Marine Inc.
This project relates to the growing container transport through the Panama Canal, that will be deepened and expanded with additional sets of "Post-Panamax-Locks" in the coming years. Main drivers of the container transport market are the growth of the global economy and international trade volumes.
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 69 314 / +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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