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Aecon joint venture awarded $2.75 billion contract for the execution phase of the Darlington nuclear refurbishment project

Jan 11, 2016

Toronto, ON – January 11, 2016: Aecon Group Inc. (TSX: ARE) announced today that Ontario Power Generation (OPG) has awarded a 50/50 joint venture (JV) between Aecon and SNC-Lavalin Nuclear Inc. a $2.75 billion contract to carry out the execution phase of its Re-tube and Feeder Replacement project for the Darlington Nuclear Generating Station Refurbishment Program.

The execution phase scope of work includes refurbishment of the reactor cores to replace critical components at the Darlington Nuclear Generating Station, using the tools and methods that were developed and tested during the project’s definition phase carried out by the joint venture.

The execution phase is targeted to commence in 2016 and will take approximately ten years.  Aecon’s $1.375 billion share of the contract will be added to its Energy segment backlog in the first quarter of 2016. 

“The Darlington nuclear refurbishment project will contribute significantly to the economic vitality of Ontario while ensuring the supply of emissions-free and reliable baseload electricity. We look forward to working with OPG on what we are confident will become a benchmark project for the industry. We’d also like to thank Canada’s Building Trades for their support on this project,” said Teri McKibbon, President and CEO, Aecon Group Inc. “This project illustrates Aecon’s industry-leading, highly skilled nuclear and fabrication expertise, which bodes well for Aecon’s ability to leverage our capabilities in the specialized global nuclear market.”

Aecon Group Inc. is a Canadian leader in construction and infrastructure development providing integrated turnkey services to private and public sector clients. Aecon is pleased to be consistently recognized as one of the Best Employers in Canada.