GLDD lands $30m deal

Great Lakes Dredge & Dock of the US has secured a contract to widen the Freeport Harbor Ship Channel in Texas.

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In a statement Nasdaq-quoted GLDD said the deal, which will involve expanding the waterway’s entrance and jetty channels, is worth approximately $30m.

The contractor noted it is going to widen roughly 4.5 miles (7.2 kilometres) of channel by 200 feet (61 metres), which will enable larger ships to enter the harbour.

“A portion of the dredged material is planned to be beneficially used to nourish the coastline in Quintana, Texas,” it added before noting the project is scheduled to commence next month.

GLDD also pointed out that some of the largest petrochemical and plastics production complexes in the world are located at the port of Freeport, which is fed by the channel.

The company believes these facilities will benefit from the project, which is being touted as a driver of job creation that will provide a boon for the local economy over time.

GLDD, which is in headquartered in Oak Brook, Illinois and oversees a fleet of 200 specialized ships, bills itself as the largest provider of dredging services in the US and one of the few that boasts a presence overseas as well.