-- Aecon share valued at $115 million added to first quarter 2022 backlog
--
TORONTO, Jan. 25, 2022 /CNW/ - Aecon Group Inc. (TSX: ARE)
announced today that Traylor-Aecon General Partnership, a
consortium comprised of Aecon (40%) and Traylor Bros Inc. (60%) has
been awarded a $288 million contract
by Metro Vancouver (Greater Vancouver Water District) for the
Annacis Water Supply Tunnel, Fraser River Crossing project in
British Columbia. Aecon's share of
the contract will be added to its Construction segment backlog in
the first quarter of 2022.
The scope of work includes the construction of two deep vertical
shafts, one on each side of the Fraser River, connected by a
2,350-metre tunnel between New
Westminster and Surrey, as
well as the installation of a watermain, valve chambers and surface
piping. Construction is expected to commence in the first quarter
of 2022, with anticipated completion in the second quarter of
2027.
"This complex, multi-year project further strengthens our
diverse backlog in Western Canada
and demonstrates our position as the partner-of-choice in the civil
construction market for tunnelling and water infrastructure
projects," said Jean-Louis
Servranckx, President and Chief Executive Officer, Aecon
Group Inc. "This project will ensure the sustainable, reliable
supply of clean drinking water for growing communities. As we
continue to execute the Second Narrows Water Supply Tunnel project
with Traylor, we are pleased to strengthen our partnership and
further our relationship with Metro Vancouver."
Additional information about the project is available on the
Metro Vancouver website.
About Aecon
As a Canadian leader in construction and infrastructure
development with global expertise, Aecon Group Inc. (TSX: ARE)
strives to be the number one Canadian infrastructure company and is
proud to be recognized as one of the Best Employers in Canada. Aecon safely, profitably and
sustainably delivers integrated solutions to private and
public-sector clients through its Construction segment in the
Civil, Urban Transportation, Nuclear, Utility and Industrial
sectors, and provides project development, financing, investment
and management services through its Concessions segment. Join our
online community on Twitter, LinkedIn, Facebook and Instagram
@AeconGroup.
Statement on Forward-Looking Information
The information in this press release includes certain
forward-looking statements. These forward-looking statements are
based on currently available competitive, financial and economic
data and operating plans but are subject to risks and
uncertainties. In addition to events beyond Aecon's control, there
are factors which could cause actual or future results, performance
or achievements to differ materially from those expressed or
inferred herein, as discussed in greater detail in Section 13 –
"Risk Factors" in the Management's Discussion and Analysis filed on
February 25, 2021. Except as required
by applicable securities laws, forward-looking statements speak
only as of the date on which they are made and Aecon undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as required by applicable
law.
SOURCE Aecon Group Inc.