Macro Enterprises Inc. announced Tuesday that its wholly-owned subsidiary Macro Projects Inc. has entered into a pipeline construction subcontract with the Kiewit Bonatti TMEP Partnership for ongoing works related to Trans Mountain expansion.
Macro says the contract, effective Aug. 31, allows it to continue with certain construction activities on Spread 5B of the expansion along the Coquihalla-Hope corridor in B.C. for the next 12 months. The prime construction contract was awarded to the Kiewit Bonatti TMEP Partnership.
Macro says the initial estimated value for the contemplated scope of work is approximately $180 million, and said it is now anticipating revenues to reach $350 million for the year ended December 31.
Macro says it will also be increasing its capital expenditure program to an estimated $20 million, up from the previously guided $8 to $10 million in the second quarter in the second quarter for fiscal 2021.
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