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MISSISSAUGA, ON, Aug. 8, 2018 /CNW/ - Bird Construction Inc. ("Bird") announced today that it is part of the CBS JV Corp, an integrated joint venture, selected as the preferred negotiation proponent to execute, under an Integrated Project Delivery ("IPD") contract model, the construction of the Advanced Nuclear Materials Research Centre ("ANMRC") for Canadian Nuclear Laboratories ("CNL") with a budgeted value of $250 million, located in Chalk River, Ontario. Bird is part of the joint venture that will lead the construction of the project.
"Bird, along with its joint venture partners, are proud to be selected as preferred negotiation proponent for the delivery of this important project for CNL. We are pleased that our diversification efforts are yielding results as this project represents another strategic win in the nuclear market, as well as being a significant IPD project." said Mr. Ian Boyd, President and CEO of Bird.
The 28,000 m2 ANMRC is a major part of CNL's Chalk River Laboratories revitalization and will include the installation of 16 new nuclear hot cells, 36 radioisotope laboratories, and office space to accommodate 193 staff. Construction of the technically complex research facility is anticipated to be complete in 2022.
CBS JV Corp will now enter into contract negotiations and, as part of the IPD process, will complete the validation phase of the project. It is anticipated that contract negotiations will be completed by the end of September 2018 and that the validation phase, which confirms the project's financial viability, will be completed around the second quarter of 2019. At the time of this release, there is no assurance that CBS JV Corp (or Bird) will receive a contract award related to this project.
This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to materially differ from those expressed or implied by the forward-looking information.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
I.J. Boyd, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122
SOURCE Bird Construction Inc.