The total value of the contract amounts to approximately EUR80M ($106.2M), Boskalis, a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors, said in a statement.
The project consists of reclamation for new land which will be used for residential and commercial developments in Songdo, Incheon. Boskalis’ strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in the markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This project closely relates to both the increasing global trade and global population growth.
A jumbo trailing suction hopper dredger will shortly be deployed to South Korea to undertake the works, which are scheduled to be completed by late 2014.
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