TORONTO, Feb. 20, 2013 /CNW/ - Aecon Group Inc. (TSX: ARE) is pleased to announce the commencement of
commercial flight operations today at the state-of-the-art New Quito
International Airport in Ecuador.
A Canadian-led initiative, the project has significant Canadian
contributors including: Aecon as partner of both the construction joint
venture and the concessionaire; Canadian Commercial Corporation as
prime contractor; Export Development Canada as a lender; as well as MMM
Group, a Canadian engineering and design firm.
"The Quito Airport project is illustrative of what Canadian firms bring
to complex international construction projects: construction expertise,
state-of-the-art architectural design and engineering, as well as the
successful implementation of a public-private-partnership," said John
M. Beck, Chairman and CEO of Aecon Group Inc. "This decade-long
achievement wouldn't have been possible without the successful
partnership between Canada and Ecuador and it is a pleasure to
celebrate this achievement with our Canadian and international partners
and lenders, the Republic of Ecuador, and the Municipality of Quito."
Aecon has built the greenfield airport as part of a 50/50 joint venture
with Andrade Gutierrez Constructores S.A., a construction company based
in Brazil. Work on the engineer/procure/construct contract involved
all critical infrastructure for the airport including the passenger
terminal, runways, control tower, ancillary buildings, as well as the
supply and integration of the IT, navigation and security systems.
The airport has been constructed for Corporaciσn Quiport S.A. (Quiport),
the concessionaire of the airport in which Aecon holds a 42.3 per cent
economic stake. Aecon's partners in Quiport are: CCR S.A., Airport
Development Corporation of Toronto and HAS Development Corporation of
Houston, Texas (affiliated with the Houston Airport System). Senior
lenders of the project are: US-based Overseas Private Investment
Corporation, Export-Import Bank of the USA, the Inter-American
Development Bank, as well as Export Development Canada.
"I am incredibly proud of Aecon and our partners for collaboratively
completing what is now the most advanced airport in Latin America,"
said Steve Nackan, President, Aecon Concessions. "This award-winning
project has been developed with the highest standards in construction,
sustainability, project development and financing, and we thank all our
partners for their contributions."
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:
Aecon Group Inc.