Press release from Business Wire
AECOM and Wataynikaneyap Power to help build new transmission line in Ontario
Thursday, October 17, 2013
AECOM and Wataynikaneyap Power to help build new transmission line in Ontario12:00 EDT Thursday, October 17, 2013
LOS ANGELES (Business Wire) -- AECOM Technology Corporation (NYSE:ACM), a leading provider of professional technical and management support services for public and private clients in more than 140 countries around the world, announced today that it, in association with PowerTel and Deutsche Bank, has signed a memorandum of understanding with Wataynikaneyap Power to help build a new transmission line project in Northwestern Ontario, Canada.
The AECOM-led team will provide design, construction and financial services for the project. A qualified, licensed transmission partner also will be selected, which will partly own and operate the line.
The project's first phase is a new transmission line to Pickle Lake, Ontario. The second phase will consist of connecting remote First Nations communities to the provincial power grid.
“We are delighted to play a role in providing needed electrical power in Ontario,” said AECOM Chairman and Chief Executive Officer John M. Dionisio. “We look forward to leveraging AECOM's expertise while participating in this important project, which is projected to benefit communities by enabling economic development and providing opportunities for employment and environmental improvement once operational.”
“Our goal is the grid connection of remote communities and the elimination of dependency on diesel generation,” said Margaret Kenequanash, chair of Wataynikaneyap Power. “There are many health, safety, and environmental concerns with diesel generation, and it does not meet the needs of our communities. Grid connection will change that, and our partnership will provide the necessary expertise to move this important infrastructure project forward.”
AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 140 countries and had revenue of $8.2 billion during the 12 months ended June 30, 2013. More information on AECOM and its services can be found at www.aecom.com.
About Wataynikaneyap Power
Wataynikaneyap Power is a First Nation led company working to design, permit, construct, own and operate a transmission line to bring additional grid connection to Pickle Lake and beyond to connect remote First Nation communities in Northwestern Ontario. The company's vision is to provide reliable and accessible power for residents, businesses, and industry in the region and realize economic opportunities for First Nations. More information about Wataynikaneyap Power can be found at www.wataypower.ca.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, statements of plans for future operations or expected revenue. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2013, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
Paul Dickard, 646-432-8473
VP, External Communications