Great Lakes Announces Receipt of $118.8 Million in Awarded Work

OAK BROOK, Ill., Sept. 16, 2020 (GLOBE NEWSWIRE) -- 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 $118.8 million.

The awarded work includes:

• Post 45 Contract 4 Charleston Lower Harbor New Work Dredging Project (Capital, South Carolina, $52.9 million)
  
  
• Emerald Isle, North Carolina Post-Florence Renourishment - Phase 3 Project (Coastal Protection, North Carolina, $30.6 million)
  
  
• Freeport Harbor Channel Improvement Project, Reach 3 Lower Stauffer Channel (Capital, Texas, $15.5 million)
  
  
• Upper Yazoo Dredging Subcontract (Capital, Mississippi, $7.2 million)
  
  
• Grand Isle and Vicinity, West End Beach Nourishment Project (Coastal Protection, Louisiana, $6.4 million)
  
  
• Hudson River Maintenance Dredging Project (Maintenance, New York, $6.2 million)

The Post 45 Contract 4 Charleston Lower Harbor New Work Dredging Project consists of maintenance and new work dredging of material from the Charleston Lower Harbor to Hugh Leatherman Terminal. This work is one of the final phases of the deepening project that Great Lakes began for the U.S. Army Corps of Engineers Charleston District and South Carolina State Port Authority in 2017.  When all phases are concluded, Charleston will have the only 52-foot deep channel in the Southeast.  Funding for this project comes from both the Federal Government and the State of South Carolina.  Excavated material will be placed in upland placement areas and the Ocean Dredged Material Disposal Site (ODMDS).  The work also includes measures to ensure compliance with requirements of the Endangered Species Act and Marine Mammals Protection Act. Work on this project is expected to begin in the fourth quarter of 2020, with anticipated completion in the second quarter of 2022.

The Emerald Isle, North Carolina Post-Florence Renourishment - Phase 3 Project includes offshore borrowing of material and placement of sand over approximately 10 miles of beach in the Town of Emerald Isle in North Carolina.  Funding for this project was provided from Federal supplemental appropriations after Hurricane Florence.  Great Lakes also successfully completed Phase 1 in April of 2019 and Phase 2 in April of 2020. Work on this project is estimated to begin in January of 2021.