Toronto, Ontario – April 11, 2018: Aecon Group Inc. (TSX: ARE) announced today that Mosaic Transit Group has been selected by Metrolinx and Infrastructure Ontario as preferred proponent for the Finch West Light Rail Transit (LRT) project in Toronto. Mosaic Transit Group is comprised of Aecon, ACS Infrastructure Canada Inc. and CRH Canada Group Inc. Each member of the consortium is an equal partner (33.3 per cent) in the equity and construction of the project, while Aecon and ACS Infrastructure Canada Inc. each have a 50 per cent interest in the 30 year maintenance agreement for the LRT.
Financial Close and the start of construction are expected for the second quarter of 2018.
“Aecon continues to demonstrate proven capabilities to secure and deliver large-scale, complex infrastructure projects. We look forward to working with Metrolinx, Infrastructure Ontario and our partners to execute this world-class project,” said John M. Beck, President and Chief Executive Officer, Aecon Group Inc. “The Finch West LRT will be a significant addition to Toronto’s transit system and Aecon is pleased to play a key role in connecting communities across the Greater Toronto Area.”
About Aecon
Aecon Group Inc. (TSX: ARE) is a Canadian leader and partner-of-choice in construction and infrastructure development. Aecon provides integrated turnkey services to private and public sector clients in the Infrastructure, Energy and Mining sectors and provides project management, financing and development services through its Concessions segment. For more information, please visit www.aecon.com and follow us on Twitter at @AeconGroup.