07:30:55 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Aecon Group Inc
Symbol ARE
Shares Issued 59,752,009
Close 2018-07-18 C$ 15.35
Market Cap C$ 917,193,338
Recent Sedar Documents

Post/CP say Aecon JV awarded Enbridge Line 3 contract

2018-07-19 09:19 ET - In the News

The Financial Post reports in its Thursday edition that Aecon Group's joint venture with Robert B. Somerville Co. Ltd. has won a $282-million contract for a work on Enbridge's Line 3 replacement project in Manitoba. A Canadian Press dispatch to the Post says that the work includes constructing 92.2 kilometres of pipeline in the area of Brandon, Man., and 96.5 km of pipeline near Morden, Man. Construction is expected to start in August and be mostly completed by the end of the year. The joint venture recently completed work on the Line 3 replacement project in Saskatchewan. Canadian Press says that the replacement project is to restore Line 3's capacity to 760,000 barrels per day, thus adding 375,000 bpd of export capacity into the United States when it comes on stream in late 2019 or early 2020. Enbridge has estimated the cost of the Canadian segment of the project at $5.3-billion, with another $3.8-billion for the U.S. segment. Aecon closed Wednesday at $15.35, up 18 cents on the Toronto Stock Exchange.

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