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TORONTO, Jan. 30, 2017 /CNW/ - Bird Construction Inc. announced today that it is part of the Harbour City Solutions consortium selected as the preferred proponent to design, build, finance, operate and maintain, a biosolids management project for the City of Hamilton, Ontario. Bird has a 50% interest in the construction joint venture that will design and build the project. It will also take a minority equity interest in the concession responsible for the design, construction, financing, operations and maintenance of the project through Bird Capital, a wholly owned subsidiary.
The facility will use a thermal drying process to produce pellets which will be used as fertilizer or fuel. The plant will process up to 60,000 wet tonnes per year of biosolids over the 30-year term of the contract.
The consortium plans to reach financial close in March of this year, with construction expected to commence shortly thereafter. At this time there can be no assurances that the consortium will receive a contract award related to this project.
"The Company is very pleased to be selected as the preferred proponent to design, build, finance, operate and maintain the Hamilton Biosolids Project. We are proud of our growing portfolio of environmental projects, particularly those procured under a public private partnership format", said Mr. Ian Boyd, President and CEO of Bird.
This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Bird Construction Inc.
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For further information: I.J. Boyd, President & CEO or W.R. Gingrich, CFO, Bird Construction Inc., 5700 Explorer Drive, Suite 400, Mississauga, ON L4W 0C6, Phone: (905) 602-4122, Fax: (905) 602-1516