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.