08:22 AM EDT, 04/02/2025 (MT Newswires) -- ATCO Frontec (ACO-X.TO, ACO-Y.TO), near its 52-week high, on Wednesday said a joint venture it is part of won a $48.4 million two-year contract from the Canadian government

The contract involves the construction and operation of a new radar defense system in the Northwest Territories. Inuvialuit Development holds 51% ownership of the joint venture, while ATCO holds the rest. The radar system will use technology that can detect targets at ranges of up to thousands of kilometers, beyond the typical radar horizon.

The joint venture has also teamed up with Canadian-owned D-TA Systems to deliver over-the-horizon radar (OTHR) systems. D-TA has already provided two OTHR systems to Canada, the largest in the world, on-time and on-budget, the statement noted.

The project is part of a federal funding plan to strengthen Canada's continental defence capabilities, including to modernize the North American Aerospace Defense Command (NORAD). The two-year contract began on March 28, with the potential for three additional one-year options.