Boskalis bags iron ore port contract from Rio

July 29, 2008

July 29th (Steel Guru) – It is reported that Royal Boskalis Westminster has been awarded a EUR 145 million contract by Rio Tinto for the expansion of its iron ore port facility at Cape Lambert in Western Australia. The contract is due to be completed in the second half of 2010.

The assignment includes the dredging of new berth pockets, turning and departure basins and an access channel and will be executed with a combination of cutters and hoppers. The contract is conditional on Rio Tinto obtaining various approvals, including environmental.

Boskalis officials said that “Global demand for maritime infrastructure continues to be strong. Specifically, large scale projects in such as Cape Lambert are driven by the strong demand for energy and natural resources. Boskalis can successfully capitalize on these developments through its global presence and its selective contracting policy.”

Mr Peter Berdowski CEO of Boskalis said that “As a consequence of the recently acquired projects in Dubai and Australia, our fleet is well utilized through 2009. The margins on these new projects are healthy despite increases in operational cost items such as fuel and steel. Furthermore, the margin development on current projects is in line with our previous expectations.”

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