The contract is worth around EUR350m ($396.4m) with Boskalis having a share of 50%.
The project involves reclaiming approximately 160 hectares of new land requiring in excess of 20m cu m of dredged sand. Two jumbo trailing suction hopper dredgers will be deployed for the dredging and reclamation activities sourcing sand from local borrow areas. Soil improvement and rock revetment works also form part of the project. Work will commence immediately and the project is expected to be completed in 2018. When constructed, the new island will be used for both residential and commercial purposes.
Boskalis' strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change, said Boskalis in a statement. The land reclamation project is driven by the necessity to create land to accommodate population growth in a densely populated area.
Boskalis has constructed the first Latin America artificial island for residential purposes in Panama that concluded in 2014. The company has signed a Memorandum of Understanding with the promoters to eventually build a second artificial island.
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