Aecon Group Inc. (TSX: ARE) announced today that Graham-Aecon Joint Venture, a 50/50 consortium between Aecon and Graham Construction, has been awarded a $273 million design-build contract by the Buffalo Pound Water Treatment Corporation (BPWTC) for the Buffalo Pound Water Treatment Plant Renewal Project near Moose Jaw, Saskatchewan. Aecon's share of the contract will be added to its Construction segment backlog in the second quarter of 2022.
Buffalo Pound Water Treatment Plant Borrowing $60 Million for Renewal Project
City council gave the Buffalo Pound Water Treatment Plant the go-ahead to borrow $60 million to fund its plant renewal project. The plant hasn’t had a major renewal in over 30 years. The project is expected to cost $252.8 million. Recently, the water treatment plant received $163.4 million from the Investing in Canada Infrastructure Program and $29.4 million will come from existing funds that Buffalo Pound has in reserves. The loan principle and interest is expected to be repaid by Buffalo Pound through water rate charges to the cities of Moose Jaw and Regina. Moose Jaw uses about 15 per cent of the water supply.