Aecon Consortium Achieves Financial Close for SkyTrain Project
TORONTO — Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Company”) has announced that South Fraser Station Partners, a consortium that includes Aecon, ACCIONA, and Pomerleau, has successfully reached financial close for the stations contract related to the Surrey Langley SkyTrain Project. Aecon holds a 33.3% interest in this consortium, and the contract is valued at $928 million, which will be reflected in its Construction segment backlog.
The Surrey Langley SkyTrain will extend the existing Expo Line along Fraser Highway, connecting King George Station to a new terminus station in Langley City Centre. This ambitious project entails the design and construction of eight stations, three transit exchanges, nine power substations, and 250 metres of guideway at the terminus station. Some early works are already in progress, and full construction is expected to begin shortly, with substantial completion projected for 2029.
“We are eager to collaborate with the Province of BC and our partners to deliver this essential transit extension, which will enhance mobility in one of the fastest-growing regions in Metro Vancouver,” stated Jean-Louis Servranckx, President and Chief Executive Officer of Aecon Group Inc. “The stations contract represents a vital part of the Surrey Langley SkyTrain Project, and we take pride in applying our expertise in complex transit projects to create sustainable infrastructure that will benefit future generations.”
About Aecon
Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure development firm with extensive global experience. Aecon provides integrated solutions to both private and public sector clients through its Construction segment, which spans the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors. Additionally, the company offers project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Connect with us on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.
Frequently Asked Questions
What is the Surrey Langley SkyTrain Project?
The Surrey Langley SkyTrain Project aims to extend the Expo Line from King George Station to Langley City Centre, which includes building eight new stations.
Who is part of the project consortium?
The consortium consists of Aecon, ACCIONA, and Pomerleau, with Aecon holding a 33.3% stake.
What is the contract's value?
The stations contract for the Surrey Langley SkyTrain Project is worth $928 million.
When is construction expected to begin?
Construction is anticipated to start soon, with substantial completion expected by 2029.
How can I get in touch with Aecon for more details?
You can reach out to Adam Borgatti at 416-297-2600 or via email at ir@aecon.com, or contact Nicole Court at 416-297-2600 or via email at corpaffairs@aecon.com.
