15:33:48 EDT Thu 28 Mar 2024
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Aecon Group Inc
Symbol ARE
Shares Issued 60,869,963
Close 2022-05-26 C$ 14.71
Market Cap C$ 895,397,156
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Aecon JV wins $273M contract for Buffalo Pound project

2022-05-26 20:15 ET - News Release

Mr. Jean-Louis Servranckx reports

AECON JOINT VENTURE AWARDED CONTRACT FOR THE BUFFALO POUND WATER TREATMENT PLANT RENEWAL PROJECT IN SASKATCHEWAN

Graham-Aecon Joint Venture, a 50/50 consortium between Aecon Group Inc. and Graham Construction, has been awarded a $273-million design-build contract by the Buffalo Pound Water Treatment Corp. (BPWTC) for the Buffalo Pound water treatment plant renewal project near Moose Jaw, Sask. Aecon's share of the contract will be added to its construction segment backlog in the second quarter of 2022.

The scope of work includes demolition, earthworks, structural fabrication, electrical and instrumentation work, and the construction of concrete foundations and commercial buildings to deliver both new and retrofitted infrastructure. The upgrades will modernize technology, improve residual water management practices and increase the capacity of the facility. Construction is expected to commence in the second quarter of 2022, with anticipated completion in the second quarter of 2025.

The plant serves the cities of Regina and Moose Jaw, SaskWater, and the Buffalo Pound Provincial Park, which supplies water to many communities in the region. In total, the plant supplies water to over 260,000 people.

"The Buffalo Pound water treatment plant has been integral in providing reliable, safe and high-quality water to surrounding communities for decades, and this critical project will ensure the facility has the capacity to meet the needs of growing populations," said Jean-Louis Servranckx, president and chief executive officer, Aecon Group. "We look forward to working with our client and partner as we bring our industry-leading industrial and water infrastructure expertise to deliver this sustainable project."

About Aecon Group Inc.

As a Canadian leader in construction and infrastructure development with global expertise, Aecon Group strives to be the No. 1 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.

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