Aecon joint venture announced for York Viva Bus Rapid Transit project
TORONTO, April 22, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) advised today that the Region of York has announced that York RapidLINK Constructors, a 50/50 joint venture comprised of Aecon and Dufferin Construction Company, a division of Holcim (Canada) Inc., has been chosen for a $261 million project to design and build the York Viva Bus Rapid Transit (vivaNext) rapidways along Yonge Street in the Towns of Richmond Hill and Newmarket.
The scope of the project includes widening Yonge Street to accommodate approximately nine kilometres of dedicated rapidway lanes for Viva rapid transit vehicles in the centre of the road, as well as ten new vivastations.
Work will commence in the second quarter of 2014 and is expected to be complete in the fourth quarter of 2018.
"This contract highlights the unmatched multi-disciplinary expertise Aecon brings to the table," said Teri McKibbon, Aecon's President & Chief Operating Officer. "We look forward to working with our partner Dufferin Construction, the Region of York and Metrolinx to deliver a sustainable transportation network."
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.For further information: Vince Borg, Senior Vice President, Corporate Affairs, Aecon Group Inc., 416-297-2615, email@example.com, www.aecon.com