Compagnie D'Entreprises CFE S A : Ravenna Port Hub contract awarded to a consortium including DEME

date	25 November 2020
pages	2

PRESS RELEASE

Ravenna Port Hub contract awarded to a consortium including DEME

A major contract for the construction of the Ravenna Port Hub in Italy has been awarded to a consortium including DEME's subsidiary Dredging International and Italian construction company Consorzio Stabile Grandi Lavori.

The first phase of the project includes the excavation of 5 millionm3 of sediments in the outer and inner channels, deepening the port up to -12.5 m, reconstruction of the existing docks over a length of 6.5 km to adapt them to the new depths and the construction of a 1,000 m quay for the Peninsula Trattaroli, which serves a new port area.

With a total value of EUR 197,8 million, the project is financed by CIPE (the Italian Inter-ministerial Committee for Economic Planning), the European Investment Bank, European Union and the Port System Authority. For DEME, the share in the project represents a sizable contract (1).

This ambitious project aims to develop the necessary port infrastructure to handle larger vessels of 75,000 dwt and containerships of up to 8,000 TEU, as well as higher traffic volumes. This in turn will have significant socioeconomic effects in the region. Dredging works are due to get underway in the first quarter of 2021.

DEME has a long-established presence in Italy and a strong track record throughout the Mediterranean. Currently, DEME is executing several marine projects in Italy, including those in the ports of Salerno and Augusta (Sicily).

1. For DEME, a "sizable" contract refers to a contract with a value of EUR 50-150 million.
   • A "contract", refers to a contract with a value less than EUR < 50 million,
   • A "sizable" contract refers to a contract with a value of EUR 50-150 million,

• A "substantial" contract refers to a contract with a value of EUR 150-300 million
• A "large" contract refers to a contract with a value of more than EUR 300 million.

About DEME

DEME is a world leader in the specialised fields of dredging, solutions for the offshore energy industry, infra marine and environmental works. The company can build on more than 140 years of know-how and is a front runner in innovation and new technologies.

DEME's vision is to work towards a sustainable future by offering solutions for global challenges: a rising sea level, a growing population, reduction of CO2 emissions, polluted rivers and soils and the scarcity of natural resources.

DEME can rely on 5,200 highly skilled professionals and a modern fleet of over 100 vessels. In 2019 the company achieved a turnover of 2.62 billion euros.

www.deme-group.com

Contact:

Vicky Cosemans, Head of Communications [e-mail]

T: [phone]