Aecon Group Inc. has entered into a definitive asset purchase agreement with North American Construction Group Inc. under which Aecon has agreed to sell to NACG substantially all of the assets related to Aecon's Contract Mining business for $199.1 million in cash.
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Aecon Group Inc. announced that SA Energy Group, a 50/50 joint venture between Aecon and Robert B. Somerville Co. Ltd., has been awarded a $526 million contract by TransCanada Corporation, for Spreads 3 and 4 of the Coastal GasLink Pipeline project in British Columbia.
Mikisew Aecon Limited Partnership, a newly formed joint venture between Aecon (49%) and Mikisew Group of Companies (Mikisew Cree First Nation) (51%), has been awarded a Master Service Agreement (MSA) by Fort Hills Energy L.P. for work on the Fort Hills oil sands project located approximately 90 kilometres north of Fort McMurray, Alberta. The Fort Hills oil sands project is operated by Suncor. Two initial contracts awarded under the MSA are expected to have an estimated aggregate value of approximately $100 million.
Aecon awarded pipeline construction contract by Enbridge for Line 3 Replacement Phase 2 project in Manitoba
Aecon Group Inc. has announced that SA Energy Group, a 50/50 joint venture between Aecon and Robert B. Somerville Co. Ltd., has been awarded a $282 million contract by Enbridge Pipelines Inc. for Spreads 8 and 9 of the Line 3 Replacement Phase 2 project in Manitoba.