Great Lakes Dredge & Dock (GLDD +3.3%) has received a $105M Base and Option B contract award on the Jacksonville Harbor Construction Dredging, 47-Foot Contract C Cut-42 Project.

The Jacksonville Harbor Deepening Contract C Project involves new work construction dredging in Duval County, Jacksonville, of ~4.1M cubic yards of unclassified material from ~1.7 nautical miles (Cut-42) of the St. John’s River.

Company expects the U.S. Army Corps of Engineers to award additional option work items on the contract by mid-2021 with a value of $11.5M, resulting in a total contract award of $116.5M.

Dredging is expected to commence in 4Q20 with estimated completion in 2Q22.


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