Aecon JV awarded $177 million contract for Eglinton Crosstown Light Rail
TORONTO, Nov. 12, 2013 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today
that a 50/50 joint venture between Aecon and ACS Dragados Canada Inc., has
been awarded a tunneling contract by Metrolinx for the construction of a
section of the Eglinton Crosstown Light Rail Transit (LRT) project.
The $177 million project encompasses the construction of two parallel 6.5
meter diameter tunnels west along Eglinton Avenue from a launch shaft located
east of Brentcliffe Road to an extraction shaft located east of Yonge Street,
a distance of 3.25 kilometres. The contract also includes the construction of
two emergency exit buildings.
"The Eglinton Crosstown LRT is a landmark transit line that will serve
millions of transit users across the City of Toronto," said Teri McKibbon,
Aecon's President and Chief Operating Officer. "Aecon has extensive experience
developing mass transit systems, and we are pleased to be awarded this
significant LRT contract."
Aecon is the lead of the joint venture and John M. Beck, Chairman and Chief
Executive Officer, attended the ceremonial groundbreaking today along with
Glen Murray, Minister of Transportation and Infrastructure, and Bruce McCuaig,
President and CEO of Metrolinx.
The project is scheduled for completion in the second quarter of 2016.
Aecon is currently working on two other important transit lines in Toronto -
The Toronto-York Spadina Subway Extension, and the UP Express elevated spur
line connecting the Georgetown GO Transit line to the Toronto Pearson
Aecon Group Inc. is a Canadian leader in construction and infrastructure
development providing integrated turnkey services to private and public sector
clients. Aecon is pleased to be consistently recognized as one of the Best
Employers in Canada.
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 including, but not limited to: the timing of projects,
unanticipated costs and expenses, general market and industry conditions and
operational and reputational risks, including Large Project Risk and
Contractual Factors. Readers are referred to the specific risk factors
relating to and affecting Aecon's business and operations as filed by Aecon
pursuant to applicable securities laws. Forward-looking statements may
include, without limitation, statements regarding the operations, business,
performance, prospects, strategies and outlook for Aecon. Forward-looking
statements, may in some cases be identified by words such as "will," "plans,"
"believes," "expects," "anticipates," "estimates," "projects," "intends,"
"should" or the negative of these terms, or similar expressions. 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.
SOURCE Aecon Group Inc.
Vince Borg Senior Vice President, Corporate Affairs Aecon Group Inc.
416-297-2615 email@example.com www.aecon.com
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-0- Nov/12/2013 16:30 GMT
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