A deal has been reached that will see work resume on Saint John's Harbour Bridge and the One Mile interchange.
But Horseshoe Hill Construction is expected to take over both projects within weeks, confirmed Bob Dempsey, president of the Guarantee Company of North America, the insurer of the projects.
"We've negotiated and all the terms and conditions of completing the contracts. And we're awaiting the [transportation] minister's signature, which we understand will occur on Thursday," said Dempsey.
He could not say how much money is involved or when construction will resume.
A Department of Transportation spokesperson would not confirm that a deal will be signed on Thursday, saying only that negotiations continue on the bridge projects.
Horseshoe Hill Construction is a new company made up of senior people from the now-bankrupt Concreate USL, said Dempsey.
In addition to the two Saint John projects, the company will also take over 14 other projects across the country that were put on hold when Concreate slipped into receivership, Dempsey said.
The Harbour Bridge is scheduled to be completed on Oct. 31, while the One Mile interchange is scheduled to be completed in 2013.
The bridge refurbishment includes full deck rehabilitation for both the eastbound and westbound lanes and the two ramps to and from Chesley Drive, as well as new edge and median barriers and lights.
The One Mile House highway interchange involves a series of overpasses that will lead to the Bayside Drive industrial area.