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GLDD lands dredge job

Great Lakes Dredge & Dock has secured a contract that calls for the deepening of the Arthur Kill channel in the Ports of New York and New Jersey.

GLDD is listed on the Nasdaq Exchange.

Nasdaq-quoted GLDD says the $41.4m project was awarded by the Army Corps of Engineers New York District.

In a statement, it told investors the project will involve the excavation of silt, glacial till and seabed material in addition to subaqueous drilling and blasting.

The contract is scheduled to commence before the first quarter. The company noted another $27.3m worth of work will likely be awarded this year.

Offshore

Aaron Kelley in Stamford

 07 February 2013, 21:09 GMT