The contract is worth $1.5bn and will be split equally between the four partners which in addition to Boskalis includes Van Oord, Abu Dhabi-based NMDC and Jan de Nul.

The ‘new’ Suez Canal will partially run in parallel to the current waterway and partially entail widening and deepening of existing parts.

The Boskalis contract includes the construction of the parallel section of the canal with a length of about 50km as well as the widening and deepening of a number of existing sections to a depth of 24 meters.