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IST awarded $16 million contract in Bolivia

Dec 11, 2007

Toronto, Ontario –December 11, 2007: Aecon Group Inc. (TSX: ARE) today announced that its wholly-owned subsidiary, Innovative Steam Technologies (IST), has been awarded a contract valued at $16 million to supply its Once-Through Steam Generator (OTSG) units to Bolivian power generation company Empresa Guaracachi S.A., a subsidiary of U.K.- based Rurelec PLC.

Under the terms of the contract, IST will supply two OTSG units equipped with supplementary duct burners for increased steam capacity and an exhaust cooling system to permit the open cycle operation of the existing gas turbines. The OTSG units will increase the existing plant’s operating efficiency by 40 per cent -- an extra 96MW of energy -- as a result of converting waste energy from the exhaust of the gas turbines into electricity.  The units are scheduled to be delivered in August 2008.

This contract brings IST’s total sale of OTSG units to 116 units in 15 countries world-wide.  OTSG technology improves the efficiency of its customers' power plants and is better for the environment compared to many power generation sources.

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 's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout  and internationally.