07:23 AM EDT, 10/02/2024 (MT Newswires) -- Aecon Group Inc. ( AEGXF ) , trading at 52 week high levels, announced Wednesday that Red River Biosolids Partners General Partnership, a consortium comprised of Aecon ( AEGXF ), Oscar Renda Contracting of Canada Inc., a subsidiary of Southland Holdings, Inc. ( SLND ) and MWH Constructors Canada Ltd., in which Aecon ( AEGXF ) is the lead partner and holds a 33.3% interest, has executed a contract with the City of Winnipeg to deliver the Winnipeg North End Sewage Treatment Plant Biosolids Facilities Upgrade project under a Progressive Design-Build contract model.

A statement noted the collaborative project begins with a development phase contract valued at $95 million to advance design and finalize the scope and cost of various elements of the project. Aecon ( AEGXF ) said its share of the development phase contract will be added to its Construction segment backlog in the third quarter of 2024. Upon successful completion of this phase, the implementation phase will begin to finalize the design and execute construction, with substantial completion expected in 2030, the statement added.

Wednesday's statement noted the scope of work includes the design and construction of a new biosolids facility, as well as modifications to the existing primary clarification. NEWPCC provides 70% of Winnipeg's wastewater treatment capacity and is the largest sewage treatment plant in the city. Aecon ( AEGXF ) is also currently working with Oscar Renda Contracting of Canada Inc. and the City of Winnipeg to deliver the NEWPCC Headworks Facilities Upgrade project.

"Building on our team's work at the NEWPCC since 2021, this contract for another important component of this project augments our strong roster of projects being delivered under collaborative contract models," said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon ( AEGXF ).

Aecon ( AEGXF ) rose $0.15 to $21.07 and touched a 52 week high of $21.08 yesterday.