UPDATE 1-Aecon wins Toronto subway expansion contract

* C$279 mln contract includes 2.6 km tunnel, station

* Project is 1st leg of 8.6 km expansion of Toronto subway

TORONTO, Nov 19 (BestGrowthStock) – Aecon Group Inc (ARE.TO: ) said
on Friday that it had received a C$279 million ($273.5 million)
contract from the Toronto Transit Commission to help expand the
city’s subway system.

Canada’s biggest publicly traded construction company said
a joint venture of McNally Construction, Kiewit Construction,
and Aecon Constructors would build a 2.6 kilometer (1.6 mile)
twin tunnel subway track in the north of the city starting from
an existing station.

The contract also includes the construction by Aecon
Buildings of a 110,000 square foot, three-level commuter
station.

“We fully expect this to be the first of many such
opportunities across Canada for the Aecon Infrastructure/Aecon
Buildings team,” Teri McKibbon, chief executive officer of
Aecon’s Infrastructure group, said in a statement.

The contract, which is scheduled to begin in December and
be completed by April 2014, is the first leg of a planned 8.6
kilometer expansion of Toronto’s subway system that will
include six stations, according to the transit commission’s
website. The entire project has an estimated cost of C$2.6
billion.

($1=$1.02 Canadian)
(Reporting by John McCrank; Editing by Lisa Von Ahn)

UPDATE 1-Aecon wins Toronto subway expansion contract