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Press release from CNW Group

Aecon awarded $75 million in new projects with Suncor Energy, the Calgary International Airport, and the Federal Bridge Corporation

Thursday, November 03, 2011

Aecon awarded $75 million in new projects with Suncor Energy, the Calgary International Airport, and the Federal Bridge Corporation06:30 EDT Thursday, November 03, 2011~New awards bring total project value announced since September to more than $600 million~TORONTO, Nov. 3, 2011 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that it has been awarded four new contracts totaling $75 million for work with three different clients, Suncor Energy, the Calgary International Airport, and the Federal Bridge Corporation.  These awards bring the total value of new projects announced by Aecon since September to over $600 million.The first contract, awarded to Aecon subsidiary Canonbie Contracting, is a cost reimbursable contract with Suncor Energy to construct a metering station at its Firebag in situ facility north of Fort McMurray, Alberta.  Work on the new station, needed to transfer hot bitumen from Suncor's Firebag facility to the company's upgrading complex, will begin immediately, and is scheduled for completion in the summer of 2012.Two contracts were also awarded to Tristar, a subsidiary within Aecon's Utilities Division, in a joint venture with Black & McDonald, for work at the Calgary International Airport. Work under the fixed price contract includes the installation of electrical upgrades throughout the airfield, including runway lighting, apron lighting, and the aircraft detection system, as well as the airport's lighting control and monitoring system. Tristar's work at the airport is now underway and is scheduled to be completed in the spring of 2013.In addition, Aecon's ACML Division was awarded a contract with Federal Bridge Corporation Limited to build two new bridges between Cornwall and Cornwall Island, as well as a pedestrian bridge over the Cornwall Canal.  Work on the project includes grading, granular base, hot-mix paving, electrical, drainage work as well as sanitary, and watermain reconstruction.  Construction on the fixed price contract begins immediately and is scheduled for completion by October 2013."We are pleased to build on our longstanding relationship with Suncor through the construction of their new metering station," said Teri McKibbon, Aecon's Chief Operating Officer.  "The Calgary Airport contracts will showcase Tristar as a leader in the installation of airport electrical systems.  Also, as one of Ontario's leading road and bridge builders for over fifty years, the Cornwall bridge project fits well with our core capabilities.  We look forward to working with all our clients on these important projects."Aecon Group Inc. is one of Canada's largest and most diverse construction and infrastructure development companies. 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