Aecon partnership reaches financial close on the Port of Montreal Expansion in-water works project in Contrecoeur

Executive Summary

• Aecon’s joint venture (Contrecoeur Terminal Constructors GP) has reached financial close on a $609 million design‑build contract with the Montreal Port Authority for in‑water works of the Port of Montreal Expansion.
• The contract will be added to Aecon’s Construction segment backlog in Q4 2025, with preparatory work beginning now, construction slated for 2026 and completion targeted for 2030.
• The project expands terminal capacity at Canada’s largest Eastern port, linking to major rail and highway networks and supporting economic growth and international trade.

Key Details

• Contract Value: $609 million (design‑build, progressive approach).
• Aecon Ownership Share: 40% of the Contrecoeur Terminal Constructors GP; Aecon’s share will be reflected in its backlog.
• Scope of Work: Preparatory work, dredging, construction of dock infrastructure, quay walls, return walls, and auxiliary activities.
• Timeline: Preparatory work starts immediately; construction to commence in 2026; expected completion in 2030.
• Backlog Impact: Aecon’s Construction segment backlog will increase in Q4 2025 by its proportionate share of the contract.
• Strategic Significance: Enhances the Port of Montreal’s capacity, solidifying its role as a diversified transshipment hub and supporting Canadian import/export logistics.

Notable Quotes

• “Reaching financial close on the in‑water works contract demonstrates the successful collaboration achieved during the development phase… we look forward to working with the Montreal Port Authority and our partner to safely deliver this critical project.” – Jean‑Louis Servranckx, President & CEO, Aecon Group Inc.
• “We are pleased to advance to the construction phase of this nation‑building project that will support economic growth and international trade by providing increased terminal capacity.” – Thomas Clochard, EVP & COO, Aecon Group Inc.