TORONTO, June 21 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that
its wholly-owned subsidiary, Innovative Steam Technologies (IST), has been
awarded a contract to supply two Once-Through Steam Generator (OTSG) units in
Kailua-Kona, Hawaii. The contract is valued at approximately $15 million CAD.
Under the terms of the contract, awarded by Hawaii Electric and Light
Company, IST will supply two OTSG units designed to recover waste exhaust heat
from two 25 MW gas turbines and use the heat to create steam for a steam
turbine. The OTSGs will complement the existing open cycle plant and will
provide most of the power for the south east side of the island. The units are
scheduled to be delivered in August 2008.
This project marks the third major contract for IST in the Hawaiian
Islands. Once the project is complete, IST will have installed a total of five
OTSG units in Hawaii. IST's success in Hawaii is largely attributed to
customer satisfaction with the reliability of the units and IST's modular
assembly process, which allows for most of the work to be completed at IST's
shops, limiting the amount of work completed on site.
"We are extremely pleased to have been awarded this contract. It
highlights the high levels of customer satisfaction among IST customers and
demonstrates our successful track record in providing and installing OTSG in
Hawaii," said Bob Dautovich, President of IST.
This contract brings IST's total sale of OTSG units to 114 units in 14
countries world-wide. OTSG technology improves the efficiency of its
customers' power plants and is better for the environment compared to many
power generation sources.
Aecon Group Inc. is Canada's largest publicly traded construction and
infrastructure development company. Aecon and its subsidiaries provide
services to private and public sector clients throughout Canada and
The information in this news release includes certain forward-looking
statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties which are generally described in Section
3.2 "Risk Factors" of Aecon's Annual Information Form available on SEDAR at
www.sedar.com. Although Aecon believes that the expectations reflected in
forward-looking statements are reasonable, it can give no assurance that the
expectations of any forward-looking statements will prove to be correct.
For further information:
For further information: Mitch Patten, Vice President, Corporate
Affairs, Aecon Group Inc., (416) 297-2615, firstname.lastname@example.org, www.aecon.com