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With Port Rashid reclamation in Dubai, Dredging International (DEME Group) obtains another huge contract in the UAE

ZWIJNDRECHT (9 July 2008) – The Joint Venture Dredging International – Boskalis Westminster Middle East has been awarded a contract from the leading development company Nakheel for the construction and expansion of Port Rashid in Dubai. The Joint Venture will execute the works in a 50/50 partnership and Dredging International will be the managing partner in the joint venture. In a joint effort both companies will mobilise some of the biggest trailing suction hopper dredges in the world for the execution of these important works.

The contract is worth approximately 2.2 billion AED (390 million Euro). Work will commence immediately and the project will be executed within a period of two and a half years.

The assignment includes a sizeable amount of land reclamation including the construction of a breakwater and shore protection. A total of approximately 86 million m3 of sand will be dredged thereby reclaiming 540 hectares of new land which includes the preparations for the construction of a prestigious new cruise terminal with 3.4 kilometres of quay walls.

It is however the intention of Nakheel to conclude the contract for a total of 110 million m3 of reclamation in accordance with the masterplan.

Four to six large trailing suction hopper dredgers will be deployed on the project.

The project is a direct consequence of the redevelopment of Port Rashid, the original key port of Dubai. Since all the harbour trade activities have been moved to the Port of Jebel Ali, Port Rashid has become available for the development of real estate

The huge reclamation contract in Dubai’s Port Rashid is the fifth major project Dredging International has recently obtained in the Gulf – after the Pearl of the Gulf (Qatar), , and the Al Raha Beach development in Abu Dhabi, the Al Marjan and Al Dana artificial islands at Ras-al-Khaimah. The latter € 350 million contract has been awarded to Dredging International only a couple of days ago.

About Dredging International

Dredging International is an operating company of Belgium’s Dredging, Environmental and Marine Engineering (DEME) group. DEME is active on the five continents, with some 70 projects that are being executed simultaneously all over the world. In 2007 group turnover amounted to € 1,31 billion, with an operational cash flow of more than € 259 million. Currently the order portfolio is in excess of € 2 billion. Dredging International has been active in the Gulf area since the mid-1970’s. Just two days ago, Dredging International announced that an order was obtained for construction of the artificial island of Al Dana off the Emirates coast.

The DEME Group is a member of Blue Communities, a Nakheel initiative to provide the springboard for a far reaching Global Charter, to define best practice in the way we develop our coastlines around the world .It is Blue Communities’ conviction that we need cleaner water and less pollution. We need to give more thought to utilities, landscaping, marine eco-systems. We need integrated coastal developments if we are to create the best possible future for our children and live in harmony with our seas.

For additional information: please contact Mr. H. Fiers at +32 3 250 52 20 or by

e-mail to fiers.hubert@deme.be