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
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 International Airport.
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:
Senior Vice President,
Aecon Group Inc.