TORONTO, May 5, 2022 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that Connect Cite, a 50/50 general partnership between Aecon and EBC in which Aecon is the lead partner, has finalized a $219 million contract with ADM Aeroports de Montreal to build the Montreal-Trudeau International Airport Reseau express metropolitain (REM) Station project in Quebec. Aecon's share of this contract will be added to its Construction segment backlog in the second quarter of 2022, with additional scope and related pricing being finalized through a collaborative process in the coming months.
The scope of work includes construction, project management, and commissioning of the station shell and associated buildings to enable the concurrent REM project to access the site and complete equipment installations to commence operations. Construction will commence in the second quarter of 2022.
The station is a significant addition to Montreal's transit system and will be a critical hub for the 67-kilometre REM network, a project in which Aecon is also currently playing a key role in executing. Upon completion, it will take approximately 25 minutes to travel from the station to downtown, with faster and more frequent all-day service.
"The REM network will improve mobility and connect communities across the Greater Montreal Area with faster and more sustainable transit, and we look forward to working with ADM and our partner to deliver this world-class project," said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. "This project further strengthens our presence in Quebec, as we continue to pursue significant opportunities across the province to build the critical infrastructure required to meet the needs of future generations."
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About Aecon
As a Canadian leader in construction and infrastructure development with global expertise, Aecon Group Inc. (TSX: ARE) strives to be the number one Canadian infrastructure company and is proud to be recognized as one of the Best Employers in Canada. Aecon safely, profitably, and sustainably delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors, and provides project development, financing, investment and management services through its Concessions segment. Join our online community on Twitter, LinkedIn, Facebook and Instagram @AeconGroup.
Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein, as discussed in greater detail in Section 13 - "Risk Factors" in the Management's Discussion and Analysis filed on March 1, 2022. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Aecon Group Inc.
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Adam Borgatti, SVP, Corporate Development and Investor Relations, 416-297-2610, aborgatti@aecon.com; Nicole Court, Vice President, Corporate Affairs, 647-484-1477, ncourt@aecon.com