TORONTO, May 20, 2021 /CNW/ - Aecon Group Inc. (TSX: ARE)
announced today that West End Connectors has reached financial
close on the Eglinton Crosstown West Extension (ECWE) Advance
Tunnel project in Toronto. The
contract value is $729.2 million.
West End Connectors, selected by Infrastructure Ontario (IO) and
Metrolinx to design, build and finance the project, is a consortium
comprised of Aecon (40%), Dragados Canada Inc. (40%) and Ghella
(20%). Aecon's share of the contract will be added to its
Construction segment backlog in the second quarter of 2021.
The scope of work includes the design and construction of launch
and extraction shafts, tunnels and headwalls, the installation of
precast concrete tunnel liners, as well as other ancillary work.
Construction is expected to commence in 2021, with expected
completion in the second quarter of 2025.
The ECWE is the first phase of work for the 9.2-kilometre
extension of the Eglinton Crosstown Light Rail Transit (LRT). The
extension will run primarily underground and westward from the
future Mount Dennis Station between Weston Road and Black Creek
Drive, to Renforth Drive. The system will connect to the GO
Kitchener Line and Union-Pearson (UP) Express at Mount Dennis
Station, TTC bus services in Toronto, as well as GO and MiWay bus
services.
"This critical extension to Toronto's transit system will improve mobility
for the community, decrease traffic congestion and reduce emissions
by providing a new, more sustainable transportation option," said
Jean-Louis Servranckx, President and
Chief Executive Officer, Aecon Group Inc. "We look forward to
leveraging our experience executing the Eglinton Crosstown LRT
project, as well as our preeminent heavy civil and urban
transportation systems capabilities to deliver this important
project with Infrastructure Ontario, Metrolinx and our
partners."
Further information about the project is available on the
Infrastructure Ontario and
Metrolinx websites.
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
February 25, 2021. 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.
