Infrastructure & Logistics Experience

Ellicott Dredges Iraq, LLC (“EDI”), a subsidiary of Baltimore Dredge Enterprises, LLC, was established to support the construction, marketing, maintenance and spare parts distribution of dredges in Iraq. Delphos assisted in arranging a financial structure for the construction of four marine dredges to be delivered to the Iraqi Ministry of Water. The financing structure included senior debt financing from the Overseas Private Investment Corporation (“OPIC”) of $3 million to cover project costs of $7.5 million. The OPIC loan was disbursed in June 2008 and the project stood to improve river navigation, increase hydropower electricity production, maintain flood controls and improve marine transportation in Iraq.