|
|
||||||
|
|
||||||
|
News Release |
||||||
Aecon joint venture awarded $77 million Bathurst/Langstaff tunnel project north of Toronto
|
||||||
|
|
||||||
|
|
||||||
|
Toronto, Ontario – May 11, 2006: Aecon Group Inc. (TSX: ARE) today announced that a joint venture in which its Constructors division is a partner has been awarded a $77.1 million tunnel contract by the Regional Municipality of York. The project involves the design and construction of two sanitary trunk sewers, each having a minimum internal diameter of 1.8 meters (almost 6 feet). The Bathurst collector sewer will run approximately 5.1 km along Bathurst Street north of Steeles Ave., and the Langstaff trunk sewer will run approximately 3.7 km, primarily along Langstaff Road west of Bathurst Street. The joint venture awarded the project is owned 70% by McNally International Inc. of Hamilton and 30% by Aecon. Construction of the sewers will involve Earth Pressure Balance (EPB) tunneling technology, which is designed to limit dewatering during construction. Construction will begin immediately and is scheduled to be concluded in the fall of 2008. “This contract continues Aecon's successful partnership with McNally International in serving the tunnel construction needs of York Region,” said Don Brophy, Vice President of Aecon Constructors. “It will bring our joint venture to nearly 25 km of tunnel construction since we began building tunnels for the Region in 2001.” The award follows Aecon's recent announcements of a $37.5 million contract for the widening of Highway 407 ETR north of Toronto, a $40.8 million contract for widening and bridge rehabilitation work on Highway 401 near Woodstock, Ontario and a $36.5 million contract to design and build a rail-to-rail grade separation in Town of Markham, Ontario. Total value of the four contracts is almost $192 million, with Aecon's share (recognizing its 30% joint venture participation in the most recent award) totaling nearly $138 million. 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 internationally. 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. --30--
|
