TORONTO, Nov. 19 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that its Infrastructure Division has been awarded a $58.3 million contract by the Ontario Ministry of Transportation (MTO) to expand Highway 69 near Estaire, Ontario.
Aecon Construction and Materials (ACML) will work closely with Leo Alarie and Sons, acquired by Aecon in 2007, making full use of Alarie's resources during construction. This contract is Aecon's third contract in the past four years for construction and/or expansion of Highway 69. Work on the project has commenced and is scheduled to be completed in August of 2012.
Under the contract, Aecon will widen Highway 69 from two lanes to four lanes for a stretch of nearly 15 kilometres, starting 14 kilometres north of Highway 64 and continuing north to Estaire. The project will include the construction of one new interchange at Highway 637, nine concrete drainage culverts, and two new bridges, one of which will serve as a wildlife crossing with fencing to guide the animals.
"This contract highlights the synergies between ACML and our Alarie business unit," said Teri McKibbon, CEO of Aecon's Infrastructure Group. "We are pleased once again to lend our substantial civil infrastructure capabilities to assist MTO on this northern development project."
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 10 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) 436-2803, firstname.lastname@example.org, www.aecon.com