Toronto, Ontario – November 1, 2005: Aecon Group Inc. (TSX: ARE) today announced that its wholly-owned subsidiary Innovative Steam Technologies (IST) was awarded a contract in July 2005 to design and fabricate a once-through-steam-generator (OTSG) for South Africa's first combined-cycle cogeneration project.
IST will build an OTSG worth over $2 million dollars for Mondi Business Paper. The OTSG will recover waste heat from a 26 megawatt gas turbine and produce steam for a steam turbine and the paper production process. It is estimated the project will be completed by the end of June 2006.
"We are proud to be involved in South Africa's first combined-cycle cogeneration project and hope that we're setting a trend for more efficient power generating options for industry in this growing region," said Bob Dautovich, President of IST.
Innovative Steam Technologies is the world leader in the design and fabrication of once-through-steam-generators and is a wholly owned division of Aecon Group Inc.
Aecon 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.