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Aecon Wins New Hydro Design-Build Contract from Ontario Power Generation

Jun 8 2010

Aecon Group Inc. (TSX: ARE) announced today that its Infrastructure Division has partnered with Peter Kiewit Sons Co. for a $1.7 billion design build contract awarded by Ontario Power Generation for the construction of the Lower Mattagami Hydroelectric Complex, about 70 km northeast of Kapuskasing.

Under the agreement, Aecon holds a 20% interest in the construction joint venture that will redevelop four generating stations on the Mattagami River.

Completion of this project is expected in 2015.

"This is an important project and we are committed to working safely, and completing the work on time, and on budget, said Teri McKibbon, CEO of Aecon Infrastructure. "We are very pleased to be partnered with Kiewit, a company acknowledged as a world class leader in hydro development projects".

Source: http://www.aecon.com/

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