Aecon secures $691 million dam project contract in Washington state

Aecon Group Inc. (TSX: ARE) announced that its joint venture has finalized a $691 million contract with the U.S. Army Corps of Engineers for the Howard A. Hanson Dam Additional Water Storage Fish Passage Facility project in Washington State.

The FlatironDragados-Aecon Joint Venture, in which Aecon holds a 40% stake, will add the company's portion of the contract to its Construction segment backlog in the first quarter of 2026. The project operates under an integrated design and construction contract model.

Construction is expected to begin in the second quarter of 2026, with completion anticipated in the third quarter of 2031. The project involves building a downstream dam facility with vertically stacked ports on the dam's upstream side, designed to work with upstream elements supporting connections to spawning habitat.

"This project is an exciting undertaking that leverages Aecon's extensive civil and dam infrastructure capabilities while advancing Aecon's steady growth across North America," said Jean-Louis Servranckx, President and Chief Executive Officer of Aecon Group Inc.

Col. Kathryn Sanborn, USACE Seattle District Commander, stated that Howard A. Hanson Dam serves as the primary defense against catastrophic flooding in the Green River Valley. The dam held a record pool and decreased peak flood by over 5 feet during record-breaking flows in December 2025.

According to the Army Corps of Engineers, the project will expand water storage capacity to ensure reliable supply for thousands of homes and support regional economic growth while providing salmon access to nearly half of the Green River habitat above the dam.

The information was provided in a company press release statement.

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