Boskalis receives LOI for EUR 480 million port development project in Oman

Papendrecht, 15 January 2017

Royal Boskalis Westminster N.V. (Boskalis) has received a Letter of Intent to Award a contract for the development of the port of Duqm in Oman. The contract with a value of approximately EUR 480 million will be awarded by Sezad (Special Economic Zone Authority Duqm). The final award is subject to Sezad satisfying certain conditions.

The contract includes the engineering, design, procurement and construction of a bulk liquid berth terminal. The Port of Duqm is a an existing strategic dry dock and industrial free trade zone located in the Al Wusta Region between Muscat and Salalah and has been designated as a Special Economic Zone.

Various dredging & civil activities will be executed under the responsibility of Boskalis, including the deepening of the port basin to a depth of 18 meters, reclamation of new land, the construction of a quay wall with a length of one kilometer, a double berth jetty island and stone revetment. The dredging scope will be executed by the new mega cutter Helios, which will be taken into service mid-2017, and a jumbo hopper and medium-sized trailer suction hopper dredger.

Based on the current expectations, the design activities are due to commence in the coming weeks and equipment will be mobilized mid-2017. The project is expected to be completed in 2020.

 

For further information

Investor relations:

Martijn L.D. Schuttevâer

[e-mail]

 

Press:

Arno Schikker

[e-mail]

T [phone]

 

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 harbour towage and terminal services (KOTUG SMIT Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of 1,000 units Boskalis operates in around 75 countries across six continents. Boskalis has over 8,200 employees, excluding its share in partnerships.

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

pdf version press release

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Source: Koninklijke Boskalis Westminster N.V. via Globenewswire