Great Lakes Announces Award of $57 Million East Hidd Land Reclamation Project in Bahrain

OAK BROOK, Ill.--(BUSINESS WIRE)-- Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition and remediation services, today announced the award of the $57 million East Hidd Housing Project in Bahrain. Great Lakes will reclaim 618 acres of the Arabian Gulf on which the government of Bahrain will construct additional social housing for its citizens. Great Lakes' Bahraini joint venture partner Nass Contracting Company, WLL will install slope protection around the reclaimed area which represents 40% of the contract value. The Ministry of Housing is anxious to commence work on the project and Great Lakes will expedite mobilization to begin operations in December. Dredging work will continue through most of 2012. The East Hidd Project will be the ninth major land reclamation project undertaken by the Company in Bahrain.

This will be the first major project for the recently upgraded cutter suction dredge (CSD) Ohio. Great Lakes made a significant investment in converting the former dustpan dredge to a world-class heavy-duty rock cutter suction dredge. With its new high cutter and swing power machinery, the CSD Ohio is well suited for capital and reclamation projects prevalent in the Middle East. This vessel will be one of the most powerful dredges in our fleet, with 4,500 hp on the cutter. Three in-hull dredge pumps allow the vessel to convey slurry up to five miles and longer when used in conjunction with additional booster pumps.

David Simonelli, President of Dredging Operations, said, "We are very excited to partner with Minister Basim Bin Yacob Al Hamer and the Ministry of Housing to create land for future housing for the people of Bahrain. East Hidd is the ideal project to showcase the capabilities of the newly upgraded CSD Ohio. Great Lakes' engineering and technical teams along with the Captain and crew of the CSD Ohio did an outstanding job upgrading the vessel to meet growing land reclamation needs such as this project for the Government of Bahrain."

The Company

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast. Additionally, the Company owns a 50% interest in a marine sand mining operation in New Jersey which supplies sand and aggregate used for road and building construction. Great Lakes employs over 150 degreed engineers, most specializing in civil and mechanical engineering, which contributes to its 121-year history of never failing to complete a marine project. Great Lakes has a disciplined training program for engineers which ensures experienced-based performance as they advance through Company operations. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. industry, comprised of over 200 specialized dredging and support vessels.

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Great Lakes Dredge & Dock Corporation
Katie Hayes, Investor Relations
630-574-3772

Source: Great Lakes Dredge & Dock Corporation

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