Aecon JV awarded John Hart Generating Station civil construction contract
TORONTO, Feb. 28, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today
that a joint venture of Aecon (60%) and SNC-Lavalin Constructors Pacific Inc.
(40%) has been awarded a contract by SNC-Lavalin Inc. for the civil
construction scope of the John Hart Generating Station replacement project in
The Aecon/SNC-Lavalin Constructors joint venture scope of work for the project
involves the construction of a new water intake at the existing John Hart
Spillway Dam, replacement of three 1.8 kilometre long above ground penstocks
with a 2.1 kilometre long tunnel, the construction of a new underground
generating station, and a water bypass facility. Aecon's portion of this scope
is expected to represent approximately $225 million.
"Aecon looks forward to working on this significant hydroelectric project with
SNC-Lavalin for B.C. Hydro," says Teri McKibbon, President & Chief Operating
Officer, Aecon Group Inc. "We are proud of our portfolio of hydroelectric
projects and are pleased to be working on the John Hart project which will
help maintain a reliable power supply for the region."
Work on the project is expected to commence in the second quarter of this year
and is scheduled for completion by the end of 2018. An Aecon/SNC-Lavalin joint
venture is also currently working on the Waneta Dam power plant expansion
project in British Columbia.
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 which 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 the
project, 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. 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.
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-0- Feb/28/2014 20:06 GMT
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