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News Release |
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Aecon joint venture awarded $41 million contract by Ministry of Transportation
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Toronto, Ontario – October 19, 2006:Aecon Group Inc. (TSX: ARE) announced today that its Construction and Materials division has been awarded a $41 million contract from the Ministry of Transportation to construct the realignment of a portion of Highway 69 at Sudbury, in a 50/50 joint venture with Leo Alarie and Sons Ltd. The contract involves constructing Highway 69 on a new alignment to the west of the existing highway along a 6.5 km stretch north of Highway 637 near Sudbury. The project includes advanced grading and four lane expansion of the highway, as well as the construction of three new bridges and a culvert. In the process, 1.4 million cubic meters of rock and earth will be moved and about 450,000 tonnes of granular will be placed. 4,500 cubic meters of concrete will be used to construct the structures with about 3,000 cubic meters of high performance concrete. This work is expected to take about two years to complete. "Aecon's partnership with Leo Alarie and Sons is a great advantage to the Ministry of Transportation's road construction needs,” said Teri McKibbon, President, Aecon Civil and Utilities.” “With our joint expertise in the construction of highways, this project will be efficiently completed.” 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 - --30--
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