Great Lakes Dredge & Dock: Up on $105 mln Jacksonville deepening contract

Great Lakes Dredge & Dock

25/09/2020 18:44

** Shares of dredging services provider  GLDD.O  up 3% at
$9.38
    ** GLDD receives $105 mln Base and Option B contract award
on the Jacksonville Harbor Construction Dredging  urn:newsml:reuters.com:*:nGNX2JnQVF
    ** Company expects the U.S. Army Corps of Engineers to award
additional work by mid-2021 with a value of $11.5 mln, resulting
in a total contract award of $116.5 mln
    ** Says dredging is expected to commence in Q4 and estimated
to be completed in Q2 2022
    ** GLDD down 17.3% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))