FORT ST. JOHN, BC, Nov. 25, 2015 /CNW/ - Petrowest Corporation ("Petrowest") (TSX:PRW) announced today that BC Hydro has selected Peace River Hydro Partners, a consortium in which Petrowest is partnered with Acciona Infrastructure Canada Inc. and Samsung C&T Canada Ltd., as the preferred proponent for the Site C main civil works contract in the Site C Clean Energy Project.
The main civil works is the largest single contract for construction on the Site C project. It includes the construction of an earthfill dam, two diversion tunnels, and a concrete foundation for the generating station and spillways.
As noted in the news release by BC Hydro: "A contract is expected to be awarded by early 2016. The proposal by Peace River Hydro Partners is within the budget established by BC Hydro, and is included in the $8.335 billion cost estimate for Site C." The project is expected to commence the first week of January 2016.
Rick Quigley, Petrowest's President and Chief Executive Officer, stated: "Peace River Hydro Partners are excited to be part of building a legacy project that will benefit British Columbians for generations to come. Our partnership has strong roots in Fort St. John, and I'm proud to be a part of the team building a clean energy project in the same community in which I live and work. We look forward to working closely with local workers and First Nations communities to maximize the economic opportunity for families in the Peace region."
FORWARD LOOKING INFORMATION
This news release contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are identified by their use of terms and phrases such as "anticipate", "achievable", "believe", "expect", "estimate", "plan", "intend", "project", "may", "should", "could", "predict", "will", or similar words suggesting future outcomes or language suggesting an outlook. Forward-looking statements and information are based on Petrowest's current beliefs as well as assumptions made by and information currently available to Petrowest concerning anticipated business performance. Although management of Petrowest considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking statements are subject to many external variables that are beyond Petrowest's control, such as general local and global economic, political, business and weather conditions. If any of these or other uncertainties materialize, the actual results of Petrowest may vary materially from those expected.
Petrowest is involved in both industrial and civil infrastructure projects, as well as pre-drilling and post-completion energy services, gravel crushing and hauling for non-energy sector customers. Petrowest's primary operations are based in northeastern British Columbia and northwestern Alberta.
SOURCE Petrowest Corporation
For further information: Nikolaus Kiefer, Vice President of Investor Relations & Corporate Development at (250) 787-0254 or email@example.com.