19:36:12 EDT Tue 16 Apr 2024
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or Name
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CA



Aecon Group Inc
Symbol ARE
Shares Issued 59,752,009
Close 2018-07-18 C$ 15.35
Market Cap C$ 917,193,338
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Aecon JV wins $282M contract for Line 3 Replacement

2018-07-18 08:15 ET - News Release

Mr. John Beck reports

AECON AWARDED PIPELINE CONSTRUCTION CONTRACT BY ENBRIDGE FOR LINE 3 REPLACEMENT PHASE 2 PROJECT IN MANITOBA

SA Energy Group, a 50:50 joint venture between Aecon Group Inc. and Robert B. Somerville Co. Ltd., has been awarded a $282-million contract by Enbridge Pipelines Inc. for spreads 8 and 9 of the Line 3 Replacement phase 2 project in Manitoba.

The scope of work includes constructing 92.2 kilometres of pipeline in the area of Brandon, Man., for spread 8, and constructing 96.5 kilometres of pipeline near Morden, Man., for spread 9 extending to the Canada-United States border.

Construction is expected to commence in August, 2018, with anticipated substantial completion by the end of 2018. Recently, under phase 1 of the Line 3 Replacement project, SA Energy Group successfully completed spreads 3 and 4 (261 km) in Saskatchewan.

"This award, combined with Aecon's recent major project wins, will see backlog reach record levels in the second quarter of 2018 and demonstrates our proven capabilities delivering a diverse range of projects through Aecon's industrial segment," said John M. Beck, president and chief executive officer, Aecon Group.

"SA Energy Group's experience executing spreads 3 and 4 with outstanding safety and quality performance, engagement of indigenous peoples and regulatory compliance, highlights the joint venture's proven capability to deliver key components of this project," said Mark Scherer, executive vice-president, Aecon Industrial. "The award of spreads 8 and 9 solidifies SA Energy Group as a partner of choice for Enbridge and Aecon looks forward to further mobilizing pipeline capabilities while working with our partners on this important project."

About Aecon Group Inc.

Aecon Group is a Canadian leader and partner of choice in construction and infrastructure development. Aecon provides integrated turnkey services to private and public-sector clients in the infrastructure and industrial sectors, and provides project management, financing and development services through its concessions segment.

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