Quanta Wins Contract - Analyst Blog
March 13 2013 - 1:00PM
Zacks
Quanta Services, Inc. (PWR) recently announced
that its operating unit Valard Construction has been selected by
ATCO Electric to set up transmission infrastructure for the Eastern
Alberta Transmission Line (EATL) project.
As per the terms of the agreement, Valard will set up
approximately 310 miles (500 kilometers) of 500-kilovolt
high-voltage direct current (HVDC) transmission line between the
Edmonton and Calgary regions, which are favorably located at the
center of the Alberta province. It is the primary supply and
service hub for Canada's oil sands and other northern resource
industries.
Approximately 300 km south of the capital is Calgary, Alberta's
largest city and a major distribution and transportation hub.
Therefore, this transmission line will be connecting two very
resourceful regions of the province.
Valard has already started pre-construction activities on the
project and the construction activities are expected to commence
soon without delay. Valard will be responsible for the construction
phase of the project, which includes foundation, tower assembly and
erection and conductor stringing. The EATL transmission line is
expected to be complete by the end of 2014.
The growing demand for electricity in southern and central
Alberta is expected to surpass the current capacity of the
240-kilovolt transmission system, which delivers power to the local
area. The Eastern Alberta Transmission Line is a critical
transmission infrastructure project designed to improve grid
reliability now and for the future as well.
Given the expertise and competence of Valard in successfully and
safely executing similar contracts, ATCO Electric selected Valard
for this vital project. Although Alberta has been growing rapidly
for many years, there have been no major upgrades to the
north-south transmission infrastructure for the past 20 years.
Quanta Services currently carries a Zacks Rank #3 (Hold) while
its competitors such as AECOM Technologies Corp.
(ACM), Jacobs Engineering Group Inc. (JEC) and
Chicago Bridge & Iron (CBI) carry a Zacks Rank
#2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis Report
CHICAGO BRIDGE (CBI): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
QUANTA SERVICES (PWR): Free Stock Analysis Report
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