2022 Sustainability Report - Building a Sustainable Future
De-Risking Business Through Collaborative Models
Sustainability linked projects currently in development phases present significant opportunities for long term growth*
GO Rail Expansion On-Corridor
(OnCorr) Works Project
Estimated Total Capital Cost: >$10B^&
Progressive Design, Build, Operate & Maintain Model
ONxpress Transportation Partners (ONxpress) selected
to design, build, operate and maintain the GO
Expansion OnCorr Works project in Ontario
Progressive and collaborative design, build, operate
and maintain model
ONxpress
consortium comprised of Aecon, FCC,
Deutsche Bahn and Alstom
Aecon 50% share in a civil JV with FCC, and 28% share
in a 25-year O&M partnership with Deutsche Bahn
Early works and a two-year collaborative development
phase commenced in Q3 2022, with O&M anticipated
to commence in Q2 2024
Scarborough Subway Extension
Stations, Rail and Systems (SRS)
Estimated Design & Construction Cost: $2B - $4B*&
Progressive Design-Build Model
Scarborough Transit Connect (STC), a 50/50
consortium between Aecon (lead partner) and FCC,
selected as the development partner for the
Scarborough Subway Extension SRS project in Ontario
Progressive and collaborative design-build model
An 18-month collaborative development phase
commenced in Q4 2022 to finalize the scope, cost and
schedule of various elements of the project, with
certain early works activities commencing during this
phase
Upon successful completion of the development phase,
an implementation phase will commence under a
target price contract
Scarborough
Sc
Darlington New Nuclear Project (DNNP)
Small Modular Reactor (SMR)
Total Capital Cost Under Development
Integrated Project Delivery Model
Aecon, GE Hitachi and SNC-Lavalin executed a six-year
alliance agreement with Ontario Power Generation
(OPG) to deliver North America's first grid-scale SMR
through the DNNP in Ontario
Under an Integrated Project Delivery (IPD) model, OPG
serves as the license holder and will maintain overall
responsibility for the project, including operator
training, commissioning, Indigenous engagement,
stakeholder outreach and oversight
Aecon is the provider of all construction services,
including project management, construction planning
and execution. Site preparation and related work is
currently underway and SMR construction is expected
to reach completion in the fourth quarter of 2028
ACCON
# Projects would be added to backlog following completion of successful development phases over one to two years.
Based on Infrastructure Ontario Market Update Report (January 2022); represents "Estimated Total Capital Costs" for the project, not Aecon's share in the project.
*Based on Infrastructure Ontario Market Update Report (November 2022); represents "Estimated Design & Construction Cost" for the project, not Aecon's share in the project.
& Estimated figures are not Aecon's shares in the projects as the work is performed in partnerships or joint ventures with other companies; Aecon's scope of work and relative value subject to change during the development phases.
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