CALGARY, July 31, 2012 /CNW/ - Aecon Group Inc. (TSX: ARE) announced
today that a joint venture in which its Aecon Utilities division is
participating, has been awarded a $600 million contract by Inter
Pipeline Fund to complete the expansion of the Cold Lake and Polaris
pipelines in Alberta.
The 50/50 joint venture is comprised of Aecon and Robert B. Somerville
Co. Limited (Somerville). Scope of work includes the installation of
560 kilometres of underground pipeline for the distribution of diluent
between Edmonton and Fort McMurray, as well as engineering support and
"This large award showcases the high demand for pipeline construction
services in Western Canada," says Teri McKibbon, Aecon's Chief
Operating Officer. "We look forward to working with Somerville on this
significant project for Inter Pipeline."
Work is scheduled to begin in January 2013, with completion expected in
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.