Panama Canal Authority Awards Dredging Contract

Wednesday, June 09, 2010

The Panama Canal Authority (ACP) announced that Dredging International N.V. has been awarded the contract to dredge an area of the Panama Canal's manmade body of water, Gatun Lake. The dredging project is another integral element of the Canal's Expansion Program.

The primary element within the scope of work for this contract is to widen and deepen the existing navigational channel by dredging approximately 4.6 million cubic meters in the northern most reaches of the Lake. This contract is one component within the ACP's Fresh Water Dredging and Excavation Project for the Canal Expansion, which includes the dredging and/or excavation of about 30 million cubic meters in Gatun Lake and the Gaillard Cut (the narrowest stretch of the Panama Canal).

After a thorough review of the lowest priced proposal, the ACP awarded the contract to Dredging International N.V. for $39,983,822.82.

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