EGT-Northwind Ltd has been awarded the $229 million contract to build the Inuvik to Tuktoyaktuk all-weather highway, the N.W.T. Department of Transportation announced Friday.

EGT-Northwind is a joint venture of two Inuvialuit-owned companies: E Gruben Transport and Northwind Industries.  

Construction of the highway is expected to be completed by 2018. Construction will take place primarily in the winter months to protect the underlying permafrost.

Minister of Transportation Tom Beaulieu says the contract negotiated with EGT-Northwind offers good value and the opportunity to develop the capacity of NWT businesses and residents.