Date: 4 July, 2007
Dredging contractor Royal Boskalis Westminster nv has received a large order from the Russian operation Rosstroy for the final phase in the completion of the storm barrier for St. Petersburg. The value of the contract, that will be implemented in joint venture with the German company Hochtief, is about 350 million, of which Boskalis has a 60% share.
The project involves closing off the dam as far as the actual barrier, and the final construction work on a tunnel under the new shipping canal leading to St. Petersburg. Boskalis had already won an assignment for the construction of that canal last year.
The work will take about four years. Most of the work done by Boskalis will take place in the first two years, and will involve the deployment of a number of medium-sized and large hoppers, backhoes and crane vessels for the dredging, suppletion and stonework. Hochtief will carry out most of the civil engineering component.
This project fits in with the positioning of Boskalis in the emerging BRIC markets (Brazil, Russia, India and China). The Russian dredging market is developing well, primarily as a result of the demand for maritime infrastructure and energy-related projects.
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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