05:30 PM EDT, 08/15/2024 (MT Newswires) -- Aecon Group ( AEGXF ) , a North American construction and infrastructure company, on Thursday offered an update on the Surrey Langley SkyTrain Project in British Columbia and said it is renewing its normal-course issuer bid.

Aecon ( AEGXF ) said South Fraser Station Partners, a consortium comprised of Aecon ( AEGXF ), ACCIONA and Pomerleau, with Aecon ( AEGXF ) holding a 33.3% interest, reached financial close for the stations contract on the SkyTrain Project. The contract is valued at $928 million and Aecon's ( AEGXF ) share of the contract was added to its Construction segment backlog in the second quarter.

Aecon ( AEGXF ) also said it received exchange approval to buy back and cancel up to 3.13-million shares over 12 months beginning on Aug.19, 5% of its outstanding shares.

The company's shares closed up $0.09 to $17.89 on the Toronto Stock Exchane