TORONTO, Dec. 17, 2021 /CNW/ - Aecon Group Inc. (TSX: ARE)
announced today that Shoreline Power Group, a joint venture between
Aecon (55%), SNC-Lavalin (30%) and United Engineers &
Constructors (15%), has been awarded an approximately $400 million contract by Bruce Power to execute
the Unit 3 Fuel Channel and Feeder Replacement (FCFR) at the Bruce
Nuclear Generating Station in Tiverton,
Ontario. Aecon's share of the contract will be added to its
Construction segment backlog in the fourth quarter of 2021.
The scope of work includes an internal reactor inspection, the
removal and replacement of calandria tubes, pressure tubes, and
feeder tubes, as well as project management, construction
management and field execution. Preparatory work is expected to
commence in early 2022, with anticipated completion in 2026.
Shoreline Power Group is currently executing FCFR work on Unit
6, with the majority of work expected to be completed by the end of
2022. In 2018, the joint venture signed a Preferred Supplier
Agreement for FCFR work at the plant's remaining five units as part
of the Bruce Major Component Replacement (MCR) program. With the
award of Unit 3, there are four units remaining.
"We are proud of the progress that has been made by Shoreline
Power Group to successfully execute FCFR work on Unit 6, and the
award of Unit 3 further strengthens our long-term partnership with
Bruce Power to continue advancing the MCR program," said
Jean-Louis Servranckx, President
& Chief Executive Officer, Aecon Group Inc. "We look forward to
working with Bruce Power and our partners to deliver this important
project safely and with unwavering execution performance. As part
of the Steam Generator Replacement Team (SGRT), Aecon is also
currently contracted to replace steam generators at Units 3, 4 and
6. We are pleased to play a critical role in extending the
operating life of the Bruce Nuclear Generating Station to 2064
through these projects – providing clean, reliable, low-cost energy
to Ontarians for decades."
"We are making this significant contract award with the
confidence that the members of the Shoreline Power Group have
demonstrated the experience and commitment to safety, quality and
innovation to successfully deliver this key part of our Life
Extension program," said Mike
Rencheck, President & Chief Executive Officer, Bruce
Power.
Aecon also announced the Board of Directors has approved its
next quarterly dividend of 17.5 cents
per share. The dividend will be paid on January 5, 2022 to shareholders of record as of
December 24, 2021.
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.