TORONTO, April 4,
2022 /CNW/ - Aecon Group Inc. (TSX: ARE) announced
today that it has been awarded a US$170
million contract by the Government of Saint Vincent and the
Grenadines, represented by the
Ministry of Urban Development, Energy, Airports, Seaports,
Grenadines Affairs and Local Government for the design and build of
the Kingstown Port Modernisation Project Works, Lot 1: Primary
Cargo Port, in Saint Vincent and the Grenadines. The value of the contract will be
added to Aecon's Construction segment backlog in the second quarter
of 2022, with an initial design period expected to commence in
May 2022. Construction is
expected to commence in the fourth quarter of 2023, with an
anticipated duration of two and a half years.
The primary scope of work includes designing and building a
cargo port and relocating a sewer outfall line, as well as road
upgrades and strengthening within the port catchment area in
Kingstown. Additional scope
includes work on the terminal area of approximately 6.5 hectares on
seaward reclaimed land, a sheet pile quay wall of 380 metres in
length, as well as sheet pile walls of 130 metres in length on both
sides of the reclaimed area, a container storage yard, and
break-bulk vehicle storage and maintenance areas. Terminal
buildings will include administration and customs, workshops,
warehouses, and a container freight station.
The project is being financed by the Caribbean Development Bank,
The United Kingdom Caribbean Infrastructure Fund and the Government
of Saint Vincent and the Grenadines. The construction contract will be
supervised by Sellhorn Ingenieurgesellschaft mbH (Germany).
"We are proud to bring our proven, global expertise to modernize
and improve infrastructure to the port services project in Saint
Vincent and the Grenadines –
facilitating critical improvements that will enhance economic
opportunities and access to goods and services," said Jean-Louis Servranckx, President and Chief
Executive Officer, Aecon Group Inc. "This project demonstrates our
international development capabilities as we continue to grow and
diversify our business. We look forward to working with the
Government of Saint Vincent and the Grenadines to deliver this essential and
climate-resilient infrastructure."
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
March 1, 2022. 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.