CALGARY, Oct. 1, 2012 /CNW/ - Aecon Group Inc. (TSX:ARE) announced today that a 50/50 joint venture between Aecon and Robert B. Somerville Co. Limited has been awarded a $100 million contract by Inter Pipeline Fund for facilities work related to the Cold Lake and Polaris pipelines in Alberta.
Work will include the construction of pumping stations, metering facilities, junction sites and associated pipeline connections at multiple sites.
In July, the Aecon/Somerville joint venture was awarded a $600 million contract for the installation of 560 kilometres of underground pipeline to expand the Cold Lake and Polaris pipelines.
"We look forward to continuing our work with Somerville and Inter Pipeline on this significant pipeline project," says Teri McKibbon, Aecon's Chief Operating Officer. "Aecon is committed to serving the resource sector and Canada's energy suppliers with our comprehensive capabilities and are pleased to have been awarded this contract."
Work is scheduled to begin this month, with completion expected in 2014.
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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