- Aecon Group (TSX:ARE) will play a key role in upgrading biosolids facilities at the Winnipeg North End Sewage Treatment Plant under a C$95 million development-phase contract
- The project timeline, including construction, is slated to run through 2030
- Aecon Group is a North American construction and infrastructure development company with a global track record
- Aecon Group stock has added 91.64 per cent year-over-year, but only 19.14 per cent since 2019
Aecon Group (TSX:ARE) will play a key role in upgrading biosolids facilities at the Winnipeg North End Sewage Treatment Plant under a C$95 million development-phase contract.
The City of Winnipeg signed the contract with The Red River Biosolids Partners General Partnership, of which Aecon is a member alongside Oscar Renda Contracting of Canada, a subsidiary of Southland Holdings (NYSE:SLND), and MWH Constructors Canada, in which Aecon holds a 33.3 per cent interest.
The partners are currently focused on delineating the project‘s design, scope and cost, including a new biosolids facility and modifications to an existing clarifier. According to Wednesday’s news release, construction will be substantially finalized by 2030. Aecon will add its share of the development-phase contract to its construction segment backlog in Q3 2024.
The Winnipeg North End Sewage Treatment Plant, also known as the North End Water Pollution Control Centre, is the largest sewage treatment plant in the city, supplying 70 per cent of its wastewater treatment capacity.
The project complements Aecon’s ongoing work with Oscar Renda Contracting of Canada and the City of Winnipeg to deliver a C$272 million headworks facilities upgrade project at the same plant.
Leadership insights
“Building on our team’s work at the North End Water Pollution Control Centre since 2021, this contract for another important component of this project augments our strong roster of projects being delivered under collaborative contract models,” Jean-Louis Servranckx, Aecon Group’s president and chief executive officer, said in a statement. “We look forward to safely delivering this project and working with our client and partners to extend the operating life of this essential facility.”
About Aecon Group
Aecon is a North American construction and infrastructure development company with a global track record.
Aecon Group stock (TSX:ARE) is up by 0.14 per cent, trading at C$21.10 per share as of 9:45 am ET. While the stock has added 91.64 per cent year-over-year, it is up by only 19.14 per cent since 2019, despite the company posting positive net income and growing revenue over the period.
Join the discussion: Find out what everybody’s saying about this construction stock on the Aecon Group Inc. Bullboard and check out Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo of The Winnipeg North End Sewage Treatment Plant: City of Winnipeg)