TORONTO, Dec. 21,
2023 /CNW/ - Aecon Group Inc. (TSX: ARE) announced
today that it has been awarded a US$200
million contract by Dominion Energy for the replacement of
Condensers and Feedwater Heaters at the North Anna Power Station in
Mineral, Virginia. The value of
the contract will be added to Aecon's Construction segment backlog
in the fourth quarter of 2023.
The scope of work includes planning, design and the replacement
of condenser tube bundles and the 5th and 6th
point feedwater heaters at the North Anna Power Station. Planning
is expected to commence in the first quarter of 2024, with
completion of the project anticipated in the second quarter of
2027.
The North Anna Power Station produces 17% of Virginia's electricity and supplies power to
over 450,000 homes through the operation of two units.
"Aecon is pleased to bring experience providing a full spectrum
of nuclear services to help power a sustainable future through this
important project," said Jean-Louis
Servranckx, President & Chief Executive Officer, Aecon
Group Inc. "Led by our nuclear team in the U.S., we look forward to
working with Dominion Energy to successfully deliver this project
with an unwavering focus on safety, schedule, quality, cost
performance and operational excellence."
Aecon is also currently working on the two largest nuclear
refurbishment projects in Canada,
delivering the first grid-scale Small Modular Reactor in
North America, as well as
executing the Savannah River Nuclear Solutions Dismantlement and
Removal project in South
Carolina.
"Building on Aecon's strong roster of nuclear projects, this
contract award demonstrates our continued growth in the U.S. and
our ability to support key clients on projects linked to the energy
transition," said Thomas Clochard, Executive Vice President,
Nuclear & Civil, Aecon Group Inc. "Our nuclear team in the U.S.
is strategically focused on harnessing the opportunities in the
commercial nuclear market and is well positioned to support our
valued clients on subsequent license renewal projects and nuclear
life extension programs."
Join our Team
Aecon is currently recruiting for a wide range of roles to work
on dynamic infrastructure projects. We're looking for talented and
diverse individuals to help build a sustainable future. Apply today
at aecon.com/careers.
About Aecon
Aecon Group Inc. (TSX: ARE) is a national Canadian construction
and infrastructure development company with global experience.
Aecon delivers integrated solutions to private and public-sector
clients through its Construction segment in the Civil, Urban
Transportation, Nuclear, Utility and Industrial sectors, and
provides project development, financing, investment and management
services through its Concessions segment. Join our online community
on Twitter, LinkedIn, Facebook, and Instagram
@AeconGroupInc.
Statement on Forward-Looking
Information
The information in this press release includes certain
forward-looking statements which may constitute forward-looking
information under applicable securities laws. These forward-looking
statements are based on currently available competitive, financial
and economic data and operating plans but are subject to risks and
uncertainties. Forward-looking statements may include, without
limitation, statements regarding the operations, business,
financial condition, expected financial results, performance,
prospects, ongoing objectives, strategies and outlook for Aecon.
Forward-looking statements may in some cases be identified by words
such as "may," "will," "expects," "target," "future," "plans,"
"believes," "anticipates," "estimates," "projects," "intends,"
"should" or the negative of these terms, or similar expressions. In
addition to events beyond Aecon's control, there are factors which
could cause actual or future results, performance or achievements
to differ materially from those expressed or inferred herein
including, but not limited to: the risk of not being able to meet
contractual schedules and other performance requirements; the risk
of not being able to meet its labour needs.
These forward-looking statements are based on a variety of
factors and assumptions including, but not limited to that: none of
the risks identified above materialize, there are no unforeseen
changes to economic and market conditions, and no significant
events occur outside the ordinary course of business. These
assumptions are based on information currently available to Aecon,
including information obtained from third-party sources. While the
Company believes that such third-party sources are reliable sources
of information, the Company has not independently verified the
information. The Company has not ascertained the validity or
accuracy of the underlying economic assumptions contained in such
information from third-party sources and hereby disclaims any
responsibility or liability whatsoever in respect of any
information obtained from third-party sources.
Risk factors are discussed in greater detail in Section 13 -
"Risk Factors" in the September 30,
2023 MD&A and in the 2022 Annual MD&A dated
February 28, 2023 and available
through SEDAR+ (www.sedarplus.com). Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and Aecon undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
SOURCE Aecon Group Inc.