TORONTO, July 18, 2018 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that SA Energy Group, a 50/50 joint venture between Aecon and Robert B. Somerville Co. Ltd., has been awarded a $282 million contract by Enbridge Pipelines Inc. for Spreads 8 and 9 of the Line 3 Replacement Phase 2 project in Manitoba.
The scope of work includes constructing 92.2 km of pipeline in the area of Brandon, Manitoba for Spread 8, and constructing 96.5 km of pipeline near Morden, Manitoba for Spread 9 extending to the Canada-U.S. border.
Construction is expected to commence in August 2018, with anticipated substantial completion by the end of 2018. Recently, under Phase 1 of the Line 3 Replacement project, SA Energy Group successfully completed Spreads 3 and 4 (261 km), in Saskatchewan.
"This award, combined with Aecon's recent major project wins, will see backlog reach record levels in the second quarter of 2018 and demonstrates our proven capabilities delivering a diverse range of projects through Aecon's Industrial segment," said John M. Beck, President and Chief Executive Officer, Aecon Group Inc.
"SA Energy Group's experience executing Spreads 3 and 4 with outstanding safety and quality performance, engagement of Indigenous Peoples and regulatory compliance, highlights the joint venture's proven capability to deliver key components of this project," said Mark Scherer, Executive Vice President, Aecon Industrial. "The award of Spreads 8 and 9 solidifies SA Energy Group as a partner-of-choice for Enbridge and Aecon looks forward to further mobilizing pipeline capabilities while working with our partners on this important project."
Aecon Group Inc. (TSX: ARE) is a Canadian leader and partner-of-choice in construction and infrastructure development. Aecon provides integrated turnkey services to private and public-sector clients in the Infrastructure and Industrial sectors, and provides project management, financing and development services through its Concessions segment. For more information, please visit aecon.com and follow us on Twitter, LinkedIn, and Instagram at @AeconGroup.
Statement on Forward-Looking Information
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. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, 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. 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. 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: Nicole Court, Director, Corporate Affairs, (416) 297-2600 x3824, [email protected]