REGINA, Oct. 21, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that it has been awarded approximately $275 million in mining and energy contracts for K+S Potash Canada for work on their Legacy mining project in Saskatchewan, and for North West Redwater (NWR) Partnership for work on the NWR Sturgeon Refinery project in Alberta.
The K+S mining contract for approximately $200 million involves mechanical, piping, electrical and instrumentation work for the North Tank Farm and Evaporator, Crystallization and Clarifier Plant portion of the project. Work is scheduled to begin in December 2014 with expected completion in the second half of 2016.
Aecon has previously been awarded several contracts by K+S Potash Canada for early cavern development work, well pad construction, and structural steel work on the Legacy mining project.
Aecon's Energy segment was also awarded a $75 million contract by North West Redwater Partnership for structural steel erection, fabrication and module assembly work for interconnecting pipe racks at the NWR Sturgeon Refinery in Sturgeon County, Alberta. Work is expected to be complete in the fourth quarter of 2015.
"We are pleased to continue our work with K+S Potash Canada, a leader in the potash sector and a valued client, and pleased to be working on the Sturgeon Refinery project," said Teri McKibbon, Aecon's President & Chief Executive Officer.
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.
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