Great Lakes Receives Notice to Proceed on Largest Project Undertaken in its History for the Dredge and Disposal Construction Agreement with NextDecade Corporation
24 Julio 2023 - 8:05AM
Great Lakes Dredge & Dock Corporation ("Great Lakes" or the
“Company”) (NASDAQ: GLDD), the largest provider of dredging
services in the United States, announced today the
receipt of Notice to Proceed to perform essential improvements to
the Brownsville Ship Channel for NextDecade Corporation’s
(“NextDecade”) (NASDAQ: NEXT) Rio Grande LNG (“RGLNG”)
project.
The work includes deepening the entrance channel to the western
end of the RGLNG property also known as Phase 1 of the Brazos
Island Harbor Channel Improvements. This also includes the
development of two ship berths and turning basin for the Rio Grande
LNG facility. This project will enhance commercial navigation into
and out of the Port of Brownsville and ensure the safe and reliable
access of LNG carriers to the Rio Grande LNG facility. Great Lakes
is expected to start this project later this year.
Lasse Petterson, Great Lakes’ President and Chief Executive
Officer commented, “This exciting milestone project is the
largest undertaken by Great Lakes in its 133-year history. We look
forward to working with NextDecade and other stakeholders,
including the U.S. Army Corps of Engineers and the Port of
Brownsville, on this important improvement project that will
benefit the navigation interests and allows for future development
of the Port of Brownsville. Our proven performance and safety
culture allows us to support the growth of LNG export in the U.S.,
which is a necessity in balancing affordability for energy and
overall sustainability.”
The Company Great Lakes Dredge
& Dock Corporation is the largest provider of dredging services
in the United States. In addition, Great Lakes is fully engaged in
expanding its core business into the rapidly developing offshore
wind energy industry. The Company has a long history of performing
significant international projects. The Company employs experienced
civil, ocean and mechanical engineering staff in its estimating,
production and project management functions. In its over 133-year
history, the Company has never failed to complete a marine project.
Great Lakes owns and operates the largest and most diverse fleet in
the U.S. dredging industry, comprised of approximately 200
specialized vessels. Great Lakes has a disciplined training program
for engineers that ensures experienced-based performance as they
advance through Company operations. The Company’s Incident-and
Injury-Free® (IIF®) safety management program is integrated into
all aspects of the Company’s culture. The Company’s commitment to
the IIF® culture promotes a work environment where employee safety
is paramount.
Cautionary Note Regarding
Forward-Looking Statements Certain statements in this
press release may constitute "forward-looking" statements as
defined in Section 21E of the Securities Exchange Act of 1934 (the
"Exchange Act"), the Private Securities Litigation Reform Act of
1995 (the "PSLRA") or in releases made by the Securities and
Exchange Commission (the "SEC"), all as may be amended from time to
time. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors that could cause
the actual results, performance or achievements of Great Lakes and
its subsidiaries, or industry results, to differ materially from
any future results, performance or achievements expressed or
implied by such forward-looking statements. Statements that are not
historical fact are forward-looking statements. These cautionary
statements are being made pursuant to the Exchange Act and the
PSLRA with the intention of obtaining the benefits of the "safe
harbor" provisions of such laws. Great Lakes cautions investors
that any forward-looking statements made by Great Lakes are not
guarantees or indicative of future events.
Although Great Lakes believes that its plans,
intentions and expectations reflected in this press release are
reasonable, actual events could differ materially. The
forward-looking statements contained in this press release are made
only as of the date hereof and Great Lakes does not have or
undertake any obligation to update or revise any forward-looking
statements whether as a result of new information, subsequent
events or otherwise, unless otherwise required by law.
For further information
contact: Tina BaginskisDirector,
Investor Relations630-574-3024
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