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Press release from CNW Group

Aecon joint venture awarded $150 million contract for Port Mann Main Water Supply Tunnel in Vancouver

Tuesday, May 31, 2011

Aecon joint venture awarded $150 million contract for Port Mann Main Water Supply Tunnel in Vancouver06:30 EDT Tuesday, May 31, 2011TORONTO, May 31, 2011 /CNW/ - Aecon Group Inc. (TSX: ARE) today announced that a joint venture in which its Infrastructure Division is participating has been awarded a project with Metro Vancouver for the construction of a Water Supply Tunnel under the Fraser River in Greater Vancouver, British Columbia.Under the contract, the Joint Venture, in which Aecon is a 40% partner, will sink two shafts and excavate 1,000m of EPB (earth pressure balanced) tunnel with precast segmental lining under the Fraser River from Surrey to Coquitlam, British Columbia.  Work on the project which also includes the set up of two shaft sites, installation of welded steel pipe lining and construction of two valve chambers will begin immediately.  Completion is expected in the summer of 2014.Aecon's partner in the Joint Venture is McNally International Inc. of Hamilton, Ontario.The contract forms part of Greater Vancouver's water transmission system risk management program.  The new tunnel and water pipe will replace an existing, older pipeline under the Fraser River."This is the third large heavy civil infrastructure award that Aecon has been part of in British Columbia in the past two years," said Teri McKibbon, Aecon's Chief Operating Officer. "It reinforces Aecon's position as a leader in B.C.'s civil construction sector."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.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 herein including risks 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 Annual Information Form filed on March 30, 2011 and available at www.sedar.com.  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.  For further information: Mitch Patten   Senior Vice President   Corporate Affairs   Aecon Group Inc.   416-297-2615   aecon@aecon.com   www.aecon.com