The award was made by the publicly listed company SM Prime Holdings Inc. (SMPHI) for the development will create a new commercial and residential area in a densely populated part of Manila. The project has an estimated value of approximately $720m of which Boskalis’ share amounts to approximately $360m.
“We are delighted with the award of this substantial contract from SMPHI. As Boskalis, we have a rich tradition in land reclamation and we look forward to contributing to a modest incremental growth of the Philippines and to protect part of Manila against the effects of climate change. This has always been an important region for Boskalis and through this project, we have secured utilisation for the large dredging vessels for the coming years,” commented Peter Berdowski, Boskalis ceo.
The Pasay Reclamation Development Project in Manila Bay is a new and modern commercial and residential property development to be run by SMPHI. The project involves the reclamation of approximately 360 hectares through the construction of three artificial island according to international standards to ensure a safe living environment. The islands have been designed to withstand potential large earthquakes. In addition, shore protection works are designed to withstand typhoons.
For the reclamation activities Boskalis will deploy a number of trailing suction hopper dredgers over a period of two years including its mega hopper dredgers.
Preparatory work is scheduled to commence immediately and work on-site is expected to start within the first quarter of 2020. The reclamation activities are expected to be completed within three years and the total project duration including land development is five years.
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