Belgian Firm Wins Panama Canal Dredging Deal

28 September 2009 (Last Updated September 28th, 2009 18:30)

The Panama Canal Authority has awarded Belgian firm Jan de Nul NV a contract to dredge the canal’s Atlantic entrance as part of a $5.25bn expansion plan. The $89.6m contract will involve deepening the entrance to 15.5m to allow larger ships through the canal, Reuters reported.

The Panama Canal Authority has awarded Belgian firm Jan de Nul NV a contract to dredge the canal’s Atlantic entrance as part of a $5.25bn expansion plan.

The $89.6m contract will involve deepening the entrance to 15.5m to allow larger ships through the canal, Reuters reported.

The canal currently handles 5% of global trade and the expansion is scheduled for completion in 2014.