TORONTO, Feb. 11 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that its wholly-owned subsidiary South Rock Ltd. has been awarded two contracts valued at over $119 million by Alberta Transportation and the City of Calgary. The two contracts are for the $42 million construction of an interchange at Crowchild Trail and Stoney Trail, and the $77 million expansion of Highway 63 in Fort McMurray.
Under the terms of the first contract, South Rock will complete the construction of one off-ramp bridge from Stoney Trail to Crowchild Trail for Alberta Transportation, construction of a bridge for Calgary's light rail transit system, known as the C-Train, construction of two highway bridges carrying Crowchild Trail over Stoney Trail and all remaining work including excavation, granular and asphalt paving, as well as street lighting and overhead sign structures.
Under the second contract, also awarded by Alberta Transportation, South Rock will undertake construction of the Thickwood Boulevard and Confederation Way interchanges on Highway 63 in the north end of Fort McMurray. The project includes grading, paving and construction of the bridge structures for the interchanges.
Work on both projects has commenced, with completion scheduled for October 2010 for the Crowchild Trail project and July 2012 for the Highway 63 Interchanges.
"These contract awards demonstrate Aecon's strengthened ability since our acquisition of South Rock to service Alberta's infrastructure market," said Teri McKibbon, CEO, Aecon Infrastructure. "We look forward to working with Alberta Transportation and the City of Calgary on these important infrastructure projects."
South Rock is an integrated construction and materials business headquartered in Medicine Hat, Alberta. Aecon acquired South Rock early last year to bolster its civil construction capabilities in Southern Alberta, and to add strategically important aggregate reserves in the province.
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 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 the Final Prospectus filed on September 22, 2009 and 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.
SOURCE Aecon Group Inc.
For further information: For further information: Mitch Patten, Senior Vice President, Corporate Affairs, Aecon Group Inc., (416) 297-2615, email@example.com, www.aecon.com