Press release

Papendrecht, 17 August 2010

Royal Boskalis Westminster N.V. has been awarded a contract for the capital and maintenance dredging of the Soyo LNG port in Angola. The total contract value is approximately € 155 million in which Boskalis has a 50% share. The contract was awarded by Angola LNG Ltd. Work is set to commence in 2010 and capital dredging is set to be completed by mid 2011. Included in the contract is an optional maintenance contract running from early 2012 until early 2014.

The capital dredging work scope includes the deepening and widening of the 4.5km access channel and port basins. The capital dredging involves the removal of approximately 11 million cubic meters of sand and clay and the project will be executed with medium sized hoppers. Besides dredging, Boskalis will also conduct a wide array of marine services ranging from installing and management of navigation aids through to hydrographic and land surveying activities for the client.
The subsequent optional maintenance work of the access channel and basins is expected to be conducted with medium sized hoppers. Boskalis executed also the initial capital dredging and reclamation works for the new LNG port on behalf of Angola LNG Ltd in 2008.

 

The Boskalis strategy is designed to benefit from the key macro-economic drivers that are fueling global demand in our selected markets: global trade, increasing energy consumption, expanding population pressures and the challenges of changing climate conditions. This port expansion project is driven by a need to cater for larger vessels and future trade volumes. This LNG port related project reinforces the requirement for infrastructure to accommodate the strong demand for energy resources.

Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. We provide creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. We offer a wide variety of marine services through SMIT and we have positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). The company holds important home market positions in and outside of Europe. Boskalis has a versatile fleet of over 1,000 units and operates in over 65 countries across six continents. Including its share in partnerships, Boskalis has approximately 14,000 employees. Boskalis celebrates its 100th anniversary in 2010.

For further information please contact:

Martijn L.D. Schuttevâer
Director of Investor Relations & Corporate Communications
Telephone:           +31 78 69 69 822 / +31 6 200 10 232
Telefax:                 +31 78 69 69 020               
E-mail:                   m.l.schuttevaer@boskalis.nl

This press release can also be found on our website www.boskalis.com

 

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