Press Note

Great Lakes Dredge and Dock Company expands into India;  signs an MoU with Indu Projects Limited

Great Lakes Dredge and Dock Company (GLDD), LLC is the largest dredging company in the USA with an international presence particularly in the Middle East.  GLDD recently announced that it has signed a Memorandum of Understanding (MoU) with Indu Projects Ltd (“IPL”) an engineering, procurement and construction ("EPC") company based in Hyderabad, India.  Under the terms of the MoU, GLDD will be working together with IPL and offering their unique dredging, reclamation and construction expertise to the Indian ports/port developers.

Great Lakes Dredge & Dock Company (GLDD) is America's premier dredging contractor.  Founded in 1890, it has 121 years of experience dredging, creating, maintaining and restoring a wide variety of port and coastal assets.  These include harbours, waterways, rivers, wetlands, beaches and storm-eroded shores. A sizeable fleet of specialized dredging equipment is utilised to excavate and transport the full range of underwater soils, including silts, sands, clays, and rock.  GLDD during its long history has worked internationally in South America, Europe, Africa, Asia and the Indian Sub Continent.

Indu Projects Limited (IPL) is an end-to-end solutions provider in infrastructure and real estate verticals and is headquartered in Hyderabad, India with operations spread across the country. IPL provides turnkey solutions for the Construction, Power Plant EPC, power transmission and distribution, Irrigation, Renewable energy and mining verticals in India.  Incorporated in 2001, the group has grown substantially over the years achieving a turnover of INR 21.836 Billion in 2010 - 11. The Group has a sizeable presence in India, and is spreading its operations internationally.

Jon Berger, GLDD's CEO said: "We are very pleased to initiate a business relationship with Indu Projects to participate in the development of the dredging market in India.  At Great Lakes Dredging, we are relentless in our commitment to offer world class dredging solutions to emerging markets through technology innovation as well as continuous focus on efficiencies. We believe India has the potential to become one of the largest dredging markets in the world and we expect it to make a meaningful contribution to the growth of our business in the quarters ahead."

P. Vinay Kumar, Executive Director of  of Indu Group, said: "We have chosen Great Lakes Dredging as our partner because of their high quality, reliable delivery and strong commitment to customer service.  We will be relying on Great Lakes’ proven expertise in dredging and combine it with Indu Group’s deep knowledge of the Indian market and established presence in the infrastructure domain in working with port authorities and private port developers in India and offer world class dredging services to them. We look forward to working with Great Lakes to drive adoption of best practices of dredging in India.”

For more information contact:

Indu Projects Limited/ Great Lakes Dredge and Dock Company, LLC
1009, Indu Fortune Fields, 13th Phase,

KPHB, Hyderabad – 500 072, INDIA

Tel:    +91 40 447 80000                        

Fax:    +91 40 447 80224

Contact: P. Vinay Kumar

Email: vinaykumar.p@induprojects.com