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September 28, 2009

Belgian Firm Wins Panama Canal Dredging Deal

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.

By cms admin

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.

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