Aecon-Pomerleau Partnership Secures Contract for Contrecœur Terminal Expansion Project

TORONTO, February 28, 2024 — Aecon Group Inc. AEGXF (TSX: ARE) confirmed the formalization of a pivotal contract by Contrecoeur Terminal Constructors General Partnership, in which Aecon holds a 40% interest alongside Pomerleau with 60%, with the Montréal Port Authority ('MPA'). This contract signifies a strategic collaboration to propel the in-water construction phase of the expansive Contrecœur Terminal Project in Québec forward. The Contrecœur Terminal is poised for a momentous expansion to meet the growing maritime trading demands, and this project underscores Aecon's commitment to infrastructure development in the maritime sector.

Project Details and Impact

The partnership's contract entails comprehensive design and execution of vital in-water construction work, marking a critical step in the expansion of the terminal. The Contrecœur Terminal, once completed, is expected to bolster the operational capacity and efficiency of the MPA, positioning it as a key player in North American maritime commerce. Moreover, this expansion is set to generate considerable economic uplift and job creation within the region, reflecting Aecon's role in driving socioeconomic advancements through its substantial infrastructure projects.

Aecon’s Position in the Construction Industry

Aecon Group Inc., a heavyweight in the construction and infrastructure domain, leverages its wide-ranging expertise and innovative approaches to deliver on large-scale projects across Canada. The company's strategic partnership with Pomerleau in the Contrecœur Terminal Constructors General Partnership is a testament to their shared vision for excellence and growth within the industry. Investors and stakeholders in Aecon AEGXF anticipate the positive impact of this venture on the company's portfolio and its standing in the marketplace.

Aecon, Pomerleau, MPA