Toronto, Ontario – March 22, 2007: Aecon Group Inc. (TSX: ARE) today announced that its Construction and Materials division has been awarded a $49.1 million contract to widen the median of Highway 407 northwest of Toronto between Highway 427 and Highway 401.
The project will add two inside lanes along the 27 km stretch from Highway 427 in the east to Highway 401 in the west, expanding the central section of the highway and improving traffic flow during peak hours. This follows a similar project that Aecon completed in 2006 to widen 407 ETR between Highway 427 and Highway 404.
Aecon, one of the original partners in the development, design, construction and operation of 407 ETR, will reconstruct the highway median and perform the grading, drainage, hot mix paving and illumination work on the project.
Work on the project, which includes a very aggressive schedule and a commitment to minimize traffic disruption as much as possible during construction, is scheduled to be completed in September 2007.
"Aecon has worked on Highway 407 ETR since the beginning of construction of the original 407 project in 1994, and we are pleased to have been awarded this contract,” said Teri McKibbon, President of Aecon's Civil and Utilities Group. “This contract award highlights the confidence that clients like 407 ETR have in Aecon's ability to deliver challenging projects within aggressive schedules.”
“This is good news for customers as more lanes mean faster trips,” said Antonio de Santiago, President and Chief Executive Officer of 407 ETR. “We're proud of our reputation as a fast, safe, reliable highway and Aecon's commitment to complete this project within our tight schedule requirements.”
Aecon Group Inc. is Canada's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally. The Company's shares are listed for trading on the Toronto Stock Exchange under the symbol ARE.