The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Aecon awarded contract as part of Civil Construction Team for design build of the Waneta Dam power plant expansion

Monday, November 08, 2010

Aecon awarded contract as part of Civil Construction Team for design build of the Waneta Dam power plant expansion06:30 EST Monday, November 08, 2010TORONTO, Nov. 8 /CNW/ - Aecon Group Inc. ("Aecon") (TSX:ARE) announced today that a joint venture of Aecon and SNC-Lavalin Constructors (Pacific) Inc. has been awarded a contract by SNC-Lavalin for the civil works design and construction portion of the Waneta Expansion Project. This project, which is being undertaken through a limited partnership of Fortis Inc, Columbia Power Corporation (CPC) and Columbia Basin Trust (CBT), will provide clean power to British Columbia and add to the local economy throughout its duration.The project involves design and construction of an intake structure, twin tunnels and a new powerhouse on the Pend d'Oreille River south of Trail, British Columbia.  The new powerhouse will be located immediately downstream of the Waneta Dam and its existing powerhouse. Work on the Waneta Expansion Project is already underway and is scheduled for completion in spring of 2015."This is a significant project for Aecon from both a financial and strategic perspective," said Teri McKibbon, CEO of Aecon Infrastructure.  "Our partnership with SNC-Lavalin on this project further establishes Aecon's presence in Western Canada's heavy civil construction market."Aecon Group Inc. is Canada's largest, publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and on a selected basis internationally. Aecon is pleased to be recognized as one of the Best Employers in Canada as published by Maclean's Magazine.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 general global events outside Aecon's control, there are factors which could cause actual results, performance or achievements to vary from those expressed or inferred hereinincludingrisks associated with an investment in the common shares of Aecon and the risks related to Aecon's business, including Large Project Risk and Contractual Factors. Risk factors are discussed in greater detail in the section on "Risk Factors" in the Final Short Form Prospectus filed on October 1, 2010 and available at  Forward-looking statements include information concerning possible or assumed future results of operations or financial position of Aecon, as well as statements preceded by, followed by, or that include the words "believes," "expects," "anticipates," "estimates," "projects," "intends," "should" or similar expressions. Important factors, in addition to those discussed in this document, could affect the future results of Aecon and could cause those results to differ materially from those expressed in any forward-looking statements.%SEDAR: 00004778EFFor further information: Mitch Patten Senior Vice President Corporate Affairs Aecon Group Inc. 416-297-2615