Jan De Nul won the contract with its bid of $89.6 million.
The Atlantic entrance dredging project ensures that larger, wider ships can reach the new set of locks that the canal is building.
Four other companies submitted bids for the work, some with prices double that of Jan De Nul. They are: a joint venture between Boskalis and Dredging International, $177.6 million; Van Oord Dredging $162.2 million; China Harbour Engineering Co, $116.7 million; and Great Lakes Dredge & Dock Co $195.9 million.
The tender also included an option to dredge an additional 2.3 million cubic meters. The ACP has 45 days to decide if it exercises the option. Jan De Nul offered to perform the option for $16.4 million.
