Great Lakes Dredge & Dock (GLDD -0.3%) announced the receipt of a $48M base contract award on the Big Bend Channel of the Port of Tampa Bay.
Dredging is expected to commence in 4Q18 with completion of both base contract and expected options in 3Q19.
Great Lakes expects to receive additional option work items on the contract by early-2019 with a value of $25M, resulting in a total contract award of $74M.
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