Aecon joint venture reaches financial close on the Pattullo Bridge Replacement Project in British Columbia

TORONTO, Feb. 10, 2020 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that Fraser Crossing Partners has reached financial close on the Pattullo Bridge Replacement Project in British Columbia. The total contract is valued at $967.5 million. 

Fraser Crossing Partners, selected by the Province of British Columbia to design, build and partially finance the project, is a 50/50 joint venture between Aecon and Acciona. Aecon's share of the contract value will be added to its Construction segment backlog in the first quarter of 2020.

The new four-lane cable-stayed bridge over the Fraser River will provide network connections to New Westminster and Surrey, feature a centre safety median barrier and wider lanes to accommodate both passenger and commercial vehicles, and have dedicated walking and cycling lanes. The project also includes the construction of connecting roadways on the north and south sides of the bridge, grade separations on Highway 17, and the removal of the existing bridge once the new bridge is complete.

Early construction activities are expected to commence in the first quarter of 2020, with the new bridge expected to open in 2023, and full project completion expected in the fourth quarter of 2025, following the removal of the existing bridge.

"This award adds another signature bridge project to Aecon's strong backlog, further diversifying our presence in Western Canada and underscoring our preeminent reputation as a partner-of-choice for delivering critical infrastructure projects nationwide," said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc.  "The Pattullo Bridge Replacement is one of the largest infrastructure projects in British Columbia and Aecon is pleased to work with Acciona and our valued client to improve the mobility of commuters, cyclists and pedestrians between surrounding communities."

About Aecon

As a Canadian leader in construction and infrastructure development with global expertise, Aecon Group Inc. (TSX: ARE) strives to be the number one Canadian infrastructure company. Aecon safely, profitably and sustainably delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Conventional 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 @AeconGroup.

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SOURCE Aecon Group Inc.