Source: BIS Safety Software
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • The US$2.75 billion project includes operations and maintenance for a 30-mile river diversion channel around the Fargo-Moorhead-West Fargo metro area
  • The consortium of NACG, Acciona, and Shikun & Binui was selected in an international tender for this Public-Private Partnership
  • The award marks the largest infrastructure project in NACG’s history and highlights the company’s earthworks and construction expertise
  • Once completed, The Fargo-Moorhead Floodwater Diversion Project will protect more than 235,000 people from catastrophic flooding
  • North American Construction Group Ltd. is one of Canada’s largest providers of heavy construction and mining services
  • North American Construction Group Ltd. (NOA) opened trading at C$17.60 per share

North American Construction Group (NOA) along with partners Acciona and Shikun & Binui have been awarded a landmark flood mitigation project.

The US$2.75 billion project includes operations and maintenance for a 30-mile river diversion channel around the Fargo-Moorhead-West Fargo metro area and will carry stormwater from the Red River away from population centers.

The Metro Flood Diversion Authority of Fargo-Moorhead selected the consortium of NACG, Acciona, and Shikun & Binui in an international tender for this Public-Private Partnership contract to design, build, finance, operate and maintain the flood diversion canal for a period of 29 years following completion of the project.

The consortium members are operating as the Red River Valley Alliance.

The award marks the largest infrastructure project in NACG’s history and underlines the significant earthworks and construction expertise that the company brings to the consortium. NACG anticipates that its share of the project revenue will be approximately C$600 million over the term of the contract.

Joe Lambert, President & Chief Executive Officer, stated,

“This project is a major milestone in the progress of our corporate strategy for diversification and sustainability and clearly demonstrates our continued ability to deliver on that strategy. The strength and experience of our lead partners combined with our ability to safely and efficiently execute the earth works scope gives us high confidence in overall project success.”

The project will demonstrate NACG’s ability to bring its earthworks experience in building climate-resilient infrastructure to a landmark project in the United States.

Once completed, The Fargo-Moorhead Floodwater Diversion Project will protect more than 235,000 people in major population centers between Fargo and Moorhead from catastrophic flooding and loss of property.

Joe Lambert added,

“After five years of project tender process, NACG is very excited to get to work with our partners and clients to do what we do best, safely and efficiently deliver projects that exceed customer expectation.”

NACG and its partners will be responsible for the construction of the 30-mile river diversion channel which will carry stormwater north and away from population centers. The contract includes the construction of the diversion channel and associated infrastructure including bridges, rail crossings and aqueducts.

North American Construction Group Ltd. is one of Canada’s largest providers of heavy construction and mining services. For more than 65 years, NACG has provided services to the mining, resource, and infrastructure construction markets.

North American Construction Group Ltd. (NOA) opened trading at C$17.60 per share.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.