08:32 AM EDT, 06/05/2026 (MT Newswires) -- Aecon Group ( AEGXF ) and Arctic Gateway Group (AGG), an Indigenous and community-owned business, signed a Memorandum of Understanding (MOU), establishing a collaboration framework to "explore strengthening Canada's northern trade corridor and Arctic sovereignty through infrastructure advancement related to the Port of Churchill in Manitoba, it said overnight Thursday.

Under the MOU, Aecon ( AEGXF ) and AGG will collaborate to pursue and develop project opportunities in connection with the development of the Port of Churchill and Hudson Bay Railway.

"As AGG works to further modernize the Port of Churchill, with planning for new terminals and year-round operations, as well as building up the Hudson Bay Railway to modern industrial weight standards that seamlessly intertie with Canada's class 1 rail network, Aecon ( AEGXF ) will be a trusted partner," said Arctic Gateway Chief Executive Chris Avery.

Shares of the company closed up 2.2% at $45.57 on Thursday on the Toronto Stock Exchange.