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Aecon Group Inc T.ARE

Alternate Symbol(s):  AEGXF

Aecon Group Inc. is a Canada-based construction and infrastructure development company. The Company delivers integrated solutions to private and public sector clients throughout Canada and other countries. It operates through two segments within the infrastructure development industry: Construction and Concessions. Its Construction segment includes all aspects of the construction of both public and private infrastructure, primarily in Canada, and internationally and focuses primarily on the civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure and industrial infrastructure. Its Concessions segment include the development, financing, build and operation of construction projects primarily by way of public-private partnership contract structures, as well as integrating the services of all project participants. The Company’s projects include Annacis Water Supply Tunnel, Bell Canada Gigabit Fiber Service, Finch West LRT, and others.


TSX:ARE - Post by User

Post by Gabrielon Sep 30, 2023 8:30am
176 Views
Post# 35663090

Below copies of 3 of the 4 LSTKs with force majeure clauses

Below copies of 3 of the 4 LSTKs with force majeure clauses
Goldie Howe Bridge LSTK
 
The contract for the Goldie Howe Bridge is on this link:
https://www.gordiehoweinternationalbridge.com/sites/default/files/documents/files/Procurement/Documents/103646563-v-5-Gordie-Howe-International-Bridge-Public-Project-Agreement-and-Schedules-Consolida..-.pdf
 
see article 43.7 (a) sub-section (i).
And enlightening article 43.8 
 

Eglinton LRT LSTK
 
The contract for Eglinton is on this link:
 https://www.infrastructureontario.ca/49716e/contentassets/ba2e174d25b14bf48610147e2e4c5289/eglinton_crosstown_lrt_project-agreement.pdf
 
Delay events are defined in section 40 and obviously include Force majeure.
Force majeure defined in sections 44 includes biological contamination.
 
I googled Biological contamination and it is defined as :
 
What are five 5 sources of biological contamination hazards? Biological hazards include:
    •    viruses, such as Coronavirus (COVID-19) and Japanese encephalitis.
    •    toxins from biological sources.
    •    spores.
    •    fungi.
    •    pathogenic micro-organisms.
    •    bio-active substances.
 
 Finch West LRT LSTK
 
The contract for Finch West is on this link:
https://www.infrastructureontario.ca/497173/contentassets/96f82a0f87c64b68b27d0400547f7993/finch-project-agreement-redacted.pdf (https://www.infrastructureontario.ca/497173/contentassets/96f82a0f87c64b68b27d0400547f7993/finch-project-agreement-redacted.pdf)

see clause 44.a iii

Force majeure defined in sections 44 includes biological contamination. See above.
 
We will get paid. These are standard clauses in all general administrative conditions of PPP construction contracts including that of FIDIC . in article 43.7 (a) sub-section (i).

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