Bird Construction Inc. announces that it is part of a consortium that has executed a contract to design, build, finance, oper...

LISTING: TORONTO STOCK EXCHANGE
SYMBOL: BDT

MISSISSAUGA, ON, March 29, 2017 /CNW/ - Bird Construction Inc. announced today that it, as part of the Harbour City Solutions consortium, executed a contract on March 28, 2017 to design, build, finance, operate and maintain a biosolids management facility for the City of Hamilton, Ontario. Bird has a 50% interest in the construction joint venture that will design and build the project. Bird has also taken a minority equity interest in the concession responsible for the design, construction, financing, operations and maintenance of the project through Bird Capital, a wholly owned subsidiary. On January 30, 2017, the Company had announced that it was part of the consortium named preferred proponent for the project. The consortium has since achieved financial close.

The facility will use a thermal drying process to produce pellets which will be used as fertilizer or fuel. The plant will process up to 60,000 wet tonnes per year of biosolids over the 30-year term of the contract.

Bird expects to start site preparation this summer with full construction commencing shortly thereafter. The facility is expected to be operational in the spring of 2020.

This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Bird Construction Inc.

Copyright 2017 Canada NewsWire