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USA - Great Lakes Announces Receipt of $60.9 Million in Awarded Work

Great Lakes Dredge & Dock Corporation ("Great Lakes") (NASDAQ:GLDD), the largest provider of dredging services in the United States announced today the receipt of several major dredging awards totaling $60.9 million which will be included in the year-end 2020 backlog number.

The awarded work includes:

  • North County Comprehensive Shore Protection Project (Coastal Protection, Florida, $21.2 million)
  • U.S. Naval Station Mayport and Jacksonville Harbor Maintenance Dredging Project (Maintenance, Florida, $21.2 million)
  • U.S. Naval Station Kings Bay Entrance Channel Maintenance Dredging Project (Maintenance, Georgia and Florida, $15.8 million)
  • Brunswick Inner Harbor Maintenance Dredging Subcontract (Maintenance, Georgia, $2.7 million)

The North County Comprehensive Shore Protection Project work entails beach renourishment in Palm Beach County, Florida, for a distance of approximately 2.5 miles. Sand will be dredged from a designated offshore borrow area and placed on Juno beach and Jupiter-Carlin beach to restore the existing coastal system that will provide a habitat for nesting turtles and other animals as well as provide protection from future storms. This project is funded by Palm Beach County. Work is expected to be completed early February 2021.

The U.S. Naval Station Mayport and Jacksonville Harbor Maintenance Dredging Project work consists of maintenance dredging in the U.S. Navy Mayport approach channels and turning basin. This project also covers maintenance dredging of the Jacksonville Harbor federal channel for work performed on Contract A and B. This work and the completion of Contract C, which Great Lakes is currently working on, will allow the port to open at full depth. The client on this projects is the U.S. Army Corps of Engineers, Jacksonville District and is federally funded. Work is expected to commence at the end of the first quarter of 2021 with anticipated completion in the third quarter of 2021.

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