Joint venture including SNC-Lavalin and Aecon sign Bruce Power refurbishment deal

The SNC-Lavalin headquarters is seen in Montreal on February 12, 2019. A joint venture including SNC-Lavalin Group Inc. and Aecon Group Inc. has signed a 10-year agreement valued at $1.3 billion to extend the life of four of Bruce Power's Candu nuclear reactors to 2064. THE CANADIAN PRESS/Paul Chiasson

 pch

TORONTO - A joint venture including SNC-Lavalin Group Inc. and Aecon Group Inc. has signed a 10-year agreement valued at $1.3 billion to extend the life of four of Bruce Power’s Candu nuclear reactors to 2064.

The work by the Shoreline Power Group which also includes United Engineers and Constructors includes the overhaul of the core reactor components of the Candu units.

Preparatory work is expected to start this year with completion anticipated in 2032.

Aecon says it is the lead partner with a $1-billion share of the contract that will be added to its construction segment backlog in the second quarter of 2023.

SNC-Lavalin says its portion of the contract is valued at about $173 million.

The company's ºÚÁϳԹÏÍø nuclear division will provide project management services associated with the reactor refurbishment of units 4, 5, 7 and 8.

This report by ºÚÁϳԹÏÍø was first published May 12, 2023.

Companies in this story: (TSX:SNC, TSX:ARE)

ºÚÁϳԹÏÍø. All rights reserved.