- Contract brings value of civil awards in Alberta to over $50 million -
CALGARY, June 14 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that
it has been awarded a heavy civil contract on the ring road being constructed
in Calgary. The $13 million contract to build three structures on the Stoney
Trail portion of the new road follows a $20 million contract awarded late last
year for two bridges over a nearby stretch of the same road. The latest award
brings the total value of civil construction work awarded since Aecon opened
its office in Alberta last year to over $50 million.
Under the latest contract, Aecon will build a six-lane overpass where
Beddington Trail will cross over Stoney Trail. Stoney Trail will form the
northwest quadrant of a larger ring road around the City of Calgary being
undertaken by Alberta's Ministry of Infrastructure and Transportation. Aecon's
work on the project will begin in July 2007 and is scheduled for completion in
the fall of 2008. The contract was awarded by Alberta's South Rock Ltd., the
general contractor for a substantial portion of the Stoney Trail project.
Aecon is also working on a $20 million bridge construction contract where
Crowchild Trail will cross the new ring road. The Crowchild project, awarded
late last year by the Alberta Ministry of Infrastructure and Transportation,
is currently Aecon's largest civil construction project in Alberta, and
involves construction of two bridges that will take Crowchild Trail over the
new Stoney Trail.
Aecon's other civil infrastructure projects in Alberta include
construction of ten storage tank foundations for Shell Canada, as well as two
recently announced projects for BA Energy and Kinder Morgan Canada which are
being undertaken in conjunction with Aecon's Industrial division.
"This latest award is important for our civil business in Alberta
because, together with the Crowchild project, it clearly establishes Aecon as
a player in the transportation infrastructure market in the Calgary area,"
said Teri McKibbon, President, Aecon Civil and Utilities. "These projects,
combined with our recently announced work for the oil and gas sector, also
demonstrate our ability to serve a broad range of clients in a number of
Alberta's most important infrastructure construction markets."
Aecon Group Inc. is Canada's largest publicly traded construction and
infrastructure development company. Aecon and its subsidiaries provide
services to private and public sector clients throughout Canada and
The information in this news release includes certain forward-looking
statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties which are generally described in Section
3.2 "Risk Factors" of Aecon's Annual Information Form available on SEDAR at
www.sedar.com. Although Aecon believes that the expectations reflected in
forward-looking statements are reasonable, it can give no assurance that the
expectations of any forward-looking statements will prove to be correct.
For further information:
For further information: Mitch Patten, Vice President, Corporate
Affairs, Aecon Group Inc., (416) 297-2615, firstname.lastname@example.org, www.aecon.com