TORONTO, Oct. 09, 2025 (GLOBE NEWSWIRE) — Aecon Group Inc. (TSX: ARE) (“Aecon”) announced today that the Contrecoeur Terminal Constructors General Partnership, comprising Aecon (40%) and Pomerleau (60%), has completed the co-development phase and reached financial close on its design and build contract with the Port of Montreal Authority to expand the Port of Montreal. Subsea project in Contrecoeur, Quebec. The contract, completed under an advanced design-build approach, is valued at $609 million and Aecon's share of the contract will be added to its construction portfolio in the fourth quarter of 2025.
The scope of work includes preparatory work, dredging, construction of dock infrastructure, berths, return walls and auxiliary works. Preparatory work will now begin, with construction expected to begin in 2026 and complete in 2030.
“Aecon is proud to play a key role in the expansion of the Port of Montreal, a major project that paves the way for a stronger economy,” said Jean-Louis Serranx, President and CEO of Aecon Group Inc. “Achieving financial close on the water works contract demonstrates the successful collaboration achieved during the development phase and we look forward to working with the Port of Montreal and our partner to safely deliver this important project.”
“Aecon is at the forefront of building complex civil infrastructure, and we are pleased to move into the construction phase of this nation-building project that will support economic growth and international trade by increasing terminal capacity,” said Thomas Clochard, executive vice president and chief operating officer of Aecon Group Inc.
The Contrecoeur Terminal completes the largest container port in Eastern Canada and strengthens the Port of Montreal's status as a diversified transshipment hub served by some of the world's largest shipping companies. The terminal will connect to major rail and road networks, meeting the needs of Canadian importers and exporters.
Additional information about the project can be found on the website Montreal Port Authority website.
About the company “Econ”
Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure company with global experience. Aecon provides comprehensive solutions to private and public sector clients through its construction segment in the civil, urban transportation, nuclear, utilities and industrial industries, and provides project development, financing, investment, management, operations and maintenance services through its concessions segment. Join our online community on X, LinkedIn, Facebook and Instagram @AeconGroupInc.
Forward-Looking Statement
The information in this press release includes certain forward-looking statements that 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, but are not limited to, statements regarding Aecon's operations, business, financial condition, expected financial results, performance, prospects, current objectives, strategy and prospects, including statements regarding: the expected commencement and completion of the project and the expected benefits of the subway expansion to local residents and the growing population. Forward-looking statements may in some cases be identified by words such as “may”, “will”, “expects”, “target”, “future”, “plans”, “believes”, “expects”, “estimates”, “projects”, “intends”, “should” or the negative of these terms or similar expressions.
In addition to events beyond Aecon's control, there are factors that could cause actual or future results, performance or achievements to be materially different from those expressed or implied herein, including, without limitation, the risk of failure to meet contractual schedules and other performance requirements, risks associated with third party failure to perform; the risk of being unable to meet its labor requirements at reasonable prices; the risk of failure to resolve any supply chain problems that may arise; the risk that the expected benefits from the project will not be fully realized. These forward-looking statements are based on a variety of factors and assumptions, including, but not limited to, the following: none of the risks identified above will materialize, no unexpected changes in economic and market conditions will occur and no significant events will occur outside the normal course of business. These assumptions are based on information currently available to Aecon, including information obtained from third party sources. Although Aecon believes such third-party sources to be reliable sources of information, Aecon has not independently verified the information. Aecon has not verified the truth or accuracy of the underlying economic assumptions contained in such information from third party sources and hereby disclaims any responsibility or liability with respect to any information obtained from third party sources.
Risk factors are discussed in more detail in Item 13, “Risk Factors,” in Aecon's Management's Discussion and Analysis for 2024 for the fiscal year ended December 31, 2024 and Aecon's Management's Discussion and Analysis for the fiscal quarter ended June 30, 2025, each of which is available on SEDAR+ (www.sedarplus.ca). 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 statements, whether as a result of new information, future events or otherwise.
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