Aecon Utilities Investment Overview
Major Projects & Concessions
Provide Stability
Project Timeline (Starting from 2023)
2023
Gordie Howe Bridge
2024
Finch West LRT
Eglinton LRT
GO On-Corridor
Oneida Energy Storage
Waterloo LRT
Bermuda Airport
Bruce Power
Collaborative Development Phase
Scarborough Subway Ext. Collaborative Development Phase
Darlington New SMR
Darlington Refurbishment
Deerfoot Trail Improv.
John Hart Dam Seismic
Kingstown Port (St. Vincent)
Giant Mine Remediation
Pattullo Bridge
Eglinton West Tunnel
Winnipeg North End
Buffalo Pound Water Treat.
REM Montreal
2025
P3 Concessions/
DBOM*
Gordie Howe Bridge
Other Major Projects*
Bruce Power Nuclear Refurbishment (55% JV)
$1.7 billion Fuel Channel and Feeder Replacement
contract for remaining five units at Bruce Nuclear
$5.7 billion; construction started 2018; Generating Station with anticipated completion in 2032
20% equity stake and 30-year
concession post construction
Finch West LRT
$2.5 billion; construction started 2018;
33.3% equity stake and 30-year
concession post construction (at 50%
share in construction JV)
Scarborough Subway Extension SRS (50% JV)
$2-4+ billion; project duration to be determined post
collaborative design phase
Darlington New Nuclear Project (SMR)
Total Capital Cost Under Development; expected to reach
completion in Q4 2028
Darlington Nuclear Refurbishment (50% JV)
$5.3 billion; construction started 2015; $2.75 billion; ~10-year project started 2016
Deerfoot Trail Improvements Project
$615 million; ~4-year project to be started in 2023
2026
2027
2028
2029
2030
Eglinton LRT
2054
2053
25% equity stake and 30-year
2052
concession post construction
2050
GO Rail Expansion - On-Corridor
2050
>$10 billion^; 28% interest in 25-year
John Hart Dam Seismic Upgrade (60% JV)
2049
2047
>>>2032
O&M partnership post collaborative
design phase; 50% interest in
construction JV
Oneida Energy Storage
$141 million EPC contract; construction
started 2023; 8.35% equity stake and
20-year electricity storage services
agreement (plus 5-years uncontracted
revenue) post construction
Waterloo LRT
$583 million; construction started
2014 and completed 2019; 10% equity
stake and 30-year concession began in
2019
Bermuda Airport
US$274 million; construction started
2017 and completed 2020; 50.1%%
equity stake and 30-year concession
began in 2017
$245 million; ~3-year project to be started in 2023
Kingstown (SVG) Port Modernization Project
US$170 million; ~3-year project started 2022
Giant Mine Remediation Water Treatment Plant Project
$215 million; ~3-year project to be started in 2023
Pattullo Bridge Replacement (50% JV)
$968 million; ~5-year project started 2020
Eglinton Crosstown West Extension Tunnel (40% JV)
$729 million; ~4-year project started 2021
Winnipeg North End Sewage Plant (50% JV)
$272 million; ~4-year project started 2021
Buffalo Pound Water Treatment Plant (50% JV)
$273 million; ~3-year project started 2022
REM LRT Montreal (24% JV) /
REM LRT Airport Station (50% JV)
$6.9 billion; ~6-year project started 2018
Construction
Equity &
Maintenance
Equity, Operations &
Maintenance
Progressive Design, Build,
Operations & Maintenance
Progressive
Design-Build
Integrated Project
Delivery
Opportunity
ACCON
Dates above are general estimates of completion and may not reflect final completion dates. For information regarding risk related to construction delays, see Section 13 "Risk Factors" in the Q3 2023 MD&A.
* Awarded contract values refer to the initial contract amount and do not account for any subsequent change orders which have resulted in an increase to the scope and/or price of the contract; awarded contract values do not necessarily
represent Aecon's share, as all projects listed are with partners as of the date hereof except Bermuda Airport and Kingstown Port Modernization Project; construction duration of each project is approximate and subject to change.
* CC&L Infrastructure acquired a 49.9% interest in the concessionaire, which closed in Q3 2023. Aecon Concessions retains the management contract for the airport and joint control of Skyport with a 50.1% retained interest.
^ 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.
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