Great Lakes Dredge & Dock (GLDD) said Thursday it was awarded US contracts totaling $182 million for beach renourishment and nourishment projects in New Jersey, South Carolina, New York, and Florida.
The dredging services provider said the $73.6 million New Jersey contract involves maintaining engineered beaches over 13 miles between Manasquan and Barnegat inlets. Work will begin in Q1 and end in Q3, Great Lakes said.
In South Carolina, a $72.3 million contract for Myrtle Beach and nearby areas is set to start in Q4 2025 and finish in Q1 2026, the company said.
The company said it will undertake a $19.6 million project in New York's Sagaponack and Bridgehampton beaches, scheduled to run from Q1 to Q2.
The $16.5 million Florida project to repair hurricane-damaged beaches in Palm Beach will start at the end of 2024 and conclude by Q1 next year, Great Lakes Dredge & Dock said.
Price: 11.52, Change: +0.09, Percent Change: +0.74
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.