Toronto, Ontario – November 12, 2013: Aecon Group Inc. (TSX: ARE) announced today that a 50/50 joint venture between Aecon and ACS Dragados Canada Inc., has been awarded a tunneling contract by Metrolinx for the construction of a section of the Eglinton Crosstown Light Rail Transit (LRT) project.
The $177 million project encompasses the construction of two parallel 6.5 meter diameter tunnels west along Eglinton Avenue from a launch shaft located east of Brentcliffe Road to an extraction shaft located east of Yonge Street, a distance of 3.25 kilometres. The contract also includes the construction of two emergency exit buildings.
“The Eglinton Crosstown LRT is a landmark transit line that will serve millions of transit users across the City of Toronto,” said Teri McKibbon, Aecon’s President and Chief Operating Officer. “Aecon has extensive experience developing mass transit systems, and we are pleased to be awarded this significant LRT contract.”
Aecon is the lead of the joint venture and John M. Beck, Chairman and Chief Executive Officer, attended the ceremonial groundbreaking today along with Glen Murray, Minister of Transportation and Infrastructure, and Bruce McCuaig, President and CEO of Metrolinx.
The project is scheduled for completion in the second quarter of 2016.
Aecon is currently working on two other important transit lines in Toronto – The Toronto-York Spadina Subway Extension, and the UP Express elevated spur line connecting the Georgetown GO Transit line to the Toronto Pearson International Airport.
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.