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DEME obtains new contracts for a total value of 400 million Euro

As from next week, ‘Breydel’ will sail to Latin America, on a maiden trip which will bring her to Brazil for deepening the access channel and the basin in the port of Itaguai, in the Gulf of Sepetiba (south of Rio de Janeiro). The trip is one of a series of typical assignments DEME is currently undertaking – illustrating the corporate motto ‘Creating Land for the Future.’

DEME business is growing unabated. This is obvious from new contracts that have been obtained in just the past two months. In this short span of time indeed, no less than 22 new contracts have come in for a total value of 400 million Euro. In this amount, the most important order for the deepening and widening of the Panama canal (worth 120 million Euro) has not even been included. A peculiar characteristic is the great variety of projects and disciplines. For sure, the mega projects in the Middle East remain very important, but more to the point – all new contracts are equally spread over the five continents. The fact that a great variety of dredging plant and equipment is involved, is further proof of a very healthy spread of activities. Finally, it is notable once again that one project leads to another contract – an additional sign of the strong continuity and the excellent local links of the marketing organisation.

A summary survey of new contracts for a total amount of 400 million Euro, includes the following projects. To leave no doubt, this survey is limited to contracts that have been obtained in just the past two months – in addition to other projects that are currently being executed world wide.

Middle East (184,5 million Euro)

           - Operating through Middle East Dredging Cy (MEDCO), DEME is executing dredging 

             works for the southern tunnel crossing and on the Golf Course Channel at the island of

            Yas in Abu Dhabi. Both projects fit in the broader plan to create an official Formula-1

            circuit at Yas Island (which has informally been named Ferrari Island).

          - Abu Dhabi: Having completed the important Al Raha Beach reclamation,            DEME has

            obtained a new contract on the same site. The contract calls for dredging two access

            channels.

          - Abu Dhabi: Capital dredging works for the construction of a new container port, to be

            executed by MEDCO.

South America (25 million Euro)

           - Brazil: Dredging of an access channel and basin in the port of Itaguai in the Bay of

            Sepetiba, south of Rio de Janeiro. This contract involves some 4,5          million m³ and will

            be executed during the maiden trip of TSHD Breydel. This contract was obtained after

            the successful completion of the nearby steel port of Sepetiba, which was carried out on

            behalf of Thyssen-Krupp.

Africa (36,5 million Euro)

           - South Africa: At a time TSHD Marieke was still executing the first phase,          DEME

             received a contract to carry out a second phase of the port extension at Richard’s Bay in

             South Africa. This job must be finished by mid August.

           - Ghana: Additional remediation (fourth phase) at Korle Lagoon, formerly a lake that

             acted as a waste reservoir at the outskirts of the Ghanese capital Accra.

           - Cameroun: DEME’s specialised company GeoSea has assigned its jack up      platform

             Buzzard to Cameroun on behalf of Geocéan, that  is executing repair works at the

             Sonara jetty in Limbe. GeoSea is undertaking the rock socketing part of this job.

Australia (21,5 million Euro)
           At Woodside on the west coast of Australia, DEME’s offshore daughter Tideway has

           obtained a contract for offshore trenching and backfilling for a 40 km gas pipeline in the

          frame of the Pluto LNG project.

Europe (127,5 million Euro)

           - Italy: deepening and improving by CSD d’Artagnan of the access channel at the port of

             Civitavecchia.

           - Cyprus: In June, TSHD Reynaert begins deepening works in the port of Limassol, a job

             which is executed by DEME’s Italian subsidiary SIDRA.

           - In Cuxhaven, Germany, DEME’s German subsidiary Nordsee will carry out two

             contracts: dredging and marine works for the construction of a site and quay wall for the 

             construction of offshore wind farms  , and maintenance dredging on a specific stretch of               the Elbe river. Both projects will be tackled by TSHD Brabo.

           - Netherlands: In a joint-venture, DEME obtained the contract for building the second

             Coentunnel in Amsterdam, to be carried out on a DBFM basis (design, build, finance and

             maintenance).

           - Russia: deepening and widening of the access channel as a second phase of the port of

             Ust Luga extension, near Sankt-Petersburg.

           - DEME’s offshore company Tideway begins preparation for pre-sweeping            works on the

              route of the Brittnet gas pipeline, which links Great Britain        and the Netherlands.

           - Spain: Tideway will carry out trench dredging, backfilling and landfall construction for

             the Enagas Balearic Pipeline, between Denia, Ibiza and Mallorca.

           - Belgium and Germany: DEME’s niche company GeoSea is executing soil         investigations 

              for Belwind Offshore Energy, in preparation for the construction of a new offshore

              wind turbine park in the North Sea.

           - France: The Port Autonome de Paris has assigned a contract to DEME’s          subsidiary

             Extract-Ecoterres for dredging and treatment of contaminated sediments.

About DEME

The Belgian ‘Dredging, Environmental and Marine Engineering’ (DEME) group is one of the biggest groups in the world that have specialised in dredging works, environmental projects and hydraulic engineering realisations. Staff and crew at DEME amount to 3.500, working on the five continents. In 2007 DEME realised a turnover of 1,31 billion Euro and an operational cash-flow (EBITDA) of 259,4 million Euro. With 80 major dredges and some 200 auxiliary vessels, the group operates one of the most modern, performing and versatile fleets in the world. After seven innovative dredges were commissioned in just the past four years, DEME in the first months of 2008 launched a fully new investment programme for yet another 500 million Euro. The group has a multidisciplinary character and is active in a variety of operating companies, including Dredging International. Currently, DEME companies execute more than 70 projects at the same time, all over the globe.

As from 7^th January, DEME presents itself to the outside world under a new logo and a new look. The logo and the look underline the independence of every single operating company, yet at the same time their belonging to one bigger whole. As a group of specialised companies, DEME has the capability to offer and execute global solutions for its clients. The new tagline ‘Creating Land for the Future’ stresses the orientation towards the future and the sustainable way of doing business at DEME.

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