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Press release from CNW Group

Aecon awarded $64 million in highway contracts

Wednesday, July 27, 2011

Aecon awarded $64 million in highway contracts06:30 EDT Wednesday, July 27, 2011TORONTO, July 27, 2011 /CNW/ - Aecon Group Inc. (TSX:ARE) announced today that it has been awarded three contracts valued at $64 million for highway construction work in Ontario.Under a $29 million contract with the Ontario Ministry of Transportation, Aecon will upgrade the northbound lanes of Hwy 400 along a 16.2 km stretch, from Hwy 11 to Hwy 93 north of Barrie. Work on the project includes earth grading, installing the granular base and paving the roadway, as well as electrical work and the installation of storm drains and culverts. In addition, four existing highway structures will be rehabilitated.  Construction is expected to begin in late July and is scheduled for completion in November 2013.This award follows two other highway projects totalling $35 million awarded to Aecon for the upgrade of Highway 407 ETR near Toronto. Under these contracts, Aecon will widen the Hwy 407 median along a 10 km stretch from Hwy 401 to Trafalgar Road and add sewers, install overhead signs and raise the concrete base grade of the high mast lighting on an 18 km stretch of Hwy 407 from Hwy 400 to Hwy 404. Work on these projects has begun and is scheduled for completion by early fall of this year."These projects are a natural fit for Aecon," said Teri McKibbon, Chief Operating Officer.  "Aecon has been building highways in Ontario for over 80 years, including construction of the original Hwy 407, and we are proud to continue this tradition with these important projects."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 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