Jan De Nul Group enters into JV Company agreement with the Payra Port Authority to proceed with EUR 550mln port dredging contract

By Curious

Jan De Nul Group (JDN) has signed on Monday 11 December 2017 a Joint Venture Company agreement with its partner Payra Port Authority (PPA) for the Payra Deep-sea Port dredging project in the presence of the Honourable Minister of Shipping Shajahan Khan, Mr. Frank Vanwingh de Credendo and the Belgian Ambassador Jan Luykx.

Jan De Nul Group enters into JV Company agreement with the Payra Port Authority to proceed with EUR 550mln port dredging contract

The Government of Bangladesh considers the development of Payra Deep-sea Port vital for the speedy and efficient development of Bangladesh’s infrastructure, trade and commerce. Successful operation of the new port requires dredging and land reclamation works. Under this agreement, JDN and PPA have set out the basis for their long-term cooperation and it will allow them to commence with the vital first phase dredging works. In this first phase, JDN will deploy up to 9 dredgers of its fleet, amongst which some of the most powerful Cutter Suction Dredgers in the world.

They will reclaim more than 13 million m3 to create land and dredge more than 60 million m3 to kick-start the development of the new Payra Deep-sea Port.

The Government of Bangladesh has been investing heavily and constantly in the transportation and energy infrastructure to support trade driving the economy to higher growth rates.  The Payra Deep-sea Port, therefore, plays a crucial role in the country’s economic growth. It will gradually develop in a major transport hub for the region. JDN is honoured to be a part of this.

Payra Deep-sea Port will serve Bangladesh’s needs for decades to come and is destined to lead the country’s road to prosperity.

Source: Jan De Nul Group