TORONTO, Feb. 28, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that a joint venture of Aecon (60%) and SNC-Lavalin Constructors Pacific Inc. (40%) has been awarded a contract by SNC-Lavalin Inc. for the civil construction scope of the John Hart Generating Station replacement project in British Columbia.
The Aecon/SNC-Lavalin Constructors joint venture scope of work for the project involves the construction of a new water intake at the existing John Hart Spillway Dam, replacement of three 1.8 kilometre long above ground penstocks with a 2.1 kilometre long tunnel, the construction of a new underground generating station, and a water bypass facility. Aecon's portion of this scope is expected to represent approximately $225 million.
"Aecon looks forward to working on this significant hydroelectric project with SNC-Lavalin for B.C. Hydro," says Teri McKibbon, President & Chief Operating Officer, Aecon Group Inc. "We are proud of our portfolio of hydroelectric projects and are pleased to be working on the John Hart project which will help maintain a reliable power supply for the region."
Work on the project is expected to commence in the second quarter of this year and is scheduled for completion by the end of 2018. An Aecon/SNC-Lavalin joint venture is also currently working on the Waneta Dam power plant expansion project in British Columbia.
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 which 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 the project, 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.
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