Aecon partnership reaches financial close on the Port of Montreal Expansion in-water works project in Contrecoeur
TORONTO, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) (“Aecon”) announced today that Contrecoeur Terminal Constructors General Partnership, comprised of Aecon (40%) and Pomerleau (60%), has completed the collaborative development phase and reached financial close on a design-build contract with the Montreal Port Authority for the Port of Montreal Expansion in-water works project in Contrecoeur, Québec. Finalized under a progressive design-build approach, the contract is valued at $609 million, and Aecon’s share of the contract will be added to its Construction segment backlog in the fourth quarter of 2025.
The scope of work includes preparatory work, dredging, the construction of dock infrastructure, quay walls, return walls, and auxiliary activities. Preparatory work will now commence, with construction expected to begin in 2026 and anticipated to be complete in 2030.
“Aecon is proud to be playing a key role in delivering the Port of Montreal Expansion – a major project that is leading the way in building a stronger economy,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. “Reaching financial close on the in-water works contract demonstrates the successful collaboration achieved during the development phase and we look forward to working with the Montreal Port Authority and our partner to safely deliver this critical project.”
“Aecon is at the forefront of building complex civil infrastructure, and we are pleased to advance to the construction phase of this nation-building project that will support economic growth and international trade by providing increased terminal capacity,” said Thomas Clochard, Executive Vice President and Chief Operating Officer, Aecon Group Inc.
The Contrecoeur terminal completes the largest container port in Eastern Canada and solidifies the Port of Montreal’s status as a diversified transshipment centre served by some of the world’s largest shipping companies. The terminal will connect to major rail and highway networks – meeting the needs of Canadian importers and exporters.
Further information about the project is available on the Montreal Port Authority website.
About Aecon
Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.
Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding: the anticipated commencement and completion of the project, and the anticipated benefits of the subway extension on local residents and growing populations. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "future," "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions.
In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to, the risk of not being able to meet contractual schedules and other performance requirements, the risks associated with a third party’s failure to perform; the risk of not being able to meet its labour needs at reasonable costs; the risk of not being able to address any supply chain issues which may arise; the risk of the anticipated benefits from the project not being fully realized. These forward-looking statements are based on a variety of factors and assumptions including but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions, and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.
Risk factors are discussed in greater detail in Section 13 - "Risk Factors" in Aecon’s 2024 Management’s Discussion and Analysis for the fiscal year ended December 31, 2024, and Aecon’s Management’s Discussion and Analysis for the fiscal quarter ended June 30, 2025, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For further information:
Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com
Nicole Court
Vice President, Corporate Affairs & Communications
416-297-2600
corpaffairs@aecon.com
Diane Rivard
Senior Advisor, Communications
438-341-9302
drivard@aecon.com
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