REGINA, June 30 /CNW/ - Aecon Group Inc. (TSX:ARE) announced today a joint venture, in which its Industrial Division is a partner, has been awarded an approximately $60 million engineering, procurement, and construction contract by Northland Power for an 86 MW gas-fired peaking plant in Spy Hill Saskatchewan.
The joint venture is owned 60% by Aecon and 40% by Black & Veatch, a leading U.S.-based engineering, consulting and construction company.
Aecon will provide comprehensive project management and construction services including civil, mechanical, electrical and instrumentation installation work for the project. Black & Veatch will perform the balance of plant engineering including the integration of the gas turbines and engineered equipment procurement, as well as plant start-up management and commissioning. Completion of the Spy Hill Peaking Plant is expected in the fall of 2011.
"This project highlights the combined strengths of our Industrial group's expertise in power generation in Ontario and Lockerbie's strength in the Western market," said Paul Koenderman, Executive Vice President, Aecon Industrial Group. "This contract is evidence that this collective expertise to perform power generating work in Western Canada is now bearing fruit."
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 on a selected basis internationally. Aecon is pleased to be recognized as one of the 50 Best Employers in Canada as published by Report on Business Magazine.
The information in this presentation 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 general global events outside Aecon's control, there are factors which could cause actual results, performance or achievements to vary from those expressed or inferred herein. Risk factors are discussed in greater detail in the section on "Risk Factors" in the Annual Information Form filed on March 31, 2010 and available at www.sedar.com. Forward-looking statements include information concerning possible or assumed future results of operations or financial position of Aecon, as well as statements preceded by, followed by, or that include the words "believes," "expects," "anticipates," "estimates," "projects," "intends," "should" or similar expressions. Important factors, in addition to those discussed in this document, could affect the future results of Aecon and could cause those results to differ materially from those expressed in any forward-looking statements.
SOURCE Aecon Group Inc.
For further information: For further information: Mitch Patten, Senior Vice President, Corporate Affairs, Aecon Group Inc., 416-297-2615, firstname.lastname@example.org, www.aecon.com