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Aecon wins contract to adapt power plant into offices for Nova Scotia Power print this article
The Canadian Press
HALIFAX — Aecon Group Inc. (TSX:ARE) said Monday its Atlantic Buildings division has been awarded a $53.4 million contract to adapt a power generating plant into corporate offices for Nova Scotia Power Corp.
Aecon, one of Canada’s largest construction companies, said the project involves converting a 271,000-square-foot plant into occupancy for 500 employees, a public meeting hall and parking facilities.
Work on the project is expected to be completed in December 2010.
Aecon reported the highest third-quarter profits in its history in October, with net income of $23.1 million or 45 cents a share, up from $19 million or 44 cents for the same 2007 period. Revenues rose 24 per cent to a record $535 million from $430 million as the company benefited from new road building and other infrastructure contracts.
Nova Scotia Power is a subsidiary of Halifax-based Emera Inc. (TSX:EMA), an investment company with power and energy interests in Nova Scotia and the U.S. state of Maine.
Aecon shares fell 30 cents to $10.39 in Monday trading on the Toronto Stock Exchange.