Layne Christensen division awarded $21M LNG contract in Uruguay

Layne Christensen Co.

Layne Christensen Co. (Nasdaq:LAYN) reports that Costa Fortuna SA, a wholly owned subsidiary of Layne that operates as part of the Geoconstruction division, has received a contract to perform specialized foundation construction work, including driving steel pipe for a pier and nautical support (jackup barge), in connection with the construction of a liquefied natural gas (LNG) terminal in Punto Sayago, Uruguay.

Work on the project is scheduled to begin in March, and should be completed in approximately one year. The contract has an estimated value to Layne of $20.7 million.

The construction of this LNG terminal is part of a larger endeavor by the government of Uruguay to position the country as a regional energy exporter.

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