Aecon reaches financial close on $609-million Port of Montreal expansion contract

CONTRECOEUR, Que. — Aecon Group Inc. has reached financial close on a $609-million design-build contract for in-water works at the Port of Montreal’s Contrecoeur terminal expansion, the company said Thursday.

Aecon holds a 40 per cent stake in Contrecoeur Terminal Constructors General Partnership, with Pomerleau holding the remaining 60 per cent. Aecon’s share of the contract will be added to its Construction segment backlog in the fourth quarter of 2025, the company said in a news release.

The scope includes preparatory work, dredging, construction of dock infrastructure, quay walls, return walls and auxiliary activities. Preparatory work will now commence, with construction expected to begin in 2026 and completion anticipated in 2030.

The contract was finalized under a progressive design-build approach following a collaborative development phase with the Montreal Port Authority.

“Aecon is proud to be playing a key role in delivering the Port of Montreal Expansion – a major project that is leading the way in building a stronger economy,” said Jean-Louis Servranckx, president and chief executive officer of Aecon Group Inc. “Reaching financial close on the in-water works contract demonstrates the successful collaboration achieved during the development phase and we look forward to working with the Montreal Port Authority and our partner to safely deliver this critical project.”

Thomas Clochard, executive vice president and chief operating officer at Aecon, said the company is “at the forefront of building complex civil infrastructure” and is pleased to advance to the construction phase of the project.

The Contrecoeur terminal will complete what the Montreal Port Authority describes as the largest container port in Eastern Canada. The terminal will connect to major rail and highway networks to serve Canadian importers and exporters.

Aecon Group Inc. trades on the Toronto Stock Exchange under the symbol ARE.