Metrolinx awards Aecon-led consortium $1.2bn Toronto transit contract
Metrolinx, the transport agency representing the Ontario and Toronto area, has awarded a new $1.2bn contract to the Aecon-led Mosaic Transit Group for the construction of the Finch West Light Rail Transit project.
The light-rail transit line, stretching 11km, will run through northwest Toronto linking the Finch West subway station with Humber college, including 16 different stops throughout the route.
See also:
-
Loblaw, Metrolinx to offer new type of grocery pickup service
-
Bombardier secures signalling contract for Melbourne’s $8.4bn Metro Tunnel Project
“Aecon continues to demonstrate proven capabilities to secure and deliver large-scale, complex infrastructure projects,” said John Beck, President and Chief Executive Officer, Aecon Group. “We look forward to working with Metrolinx, Infrastructure Ontario and our partners to execute this world-class project.”
Each of Aecon, ACS Infrastructure Canada and CRH Canada making up the Mosaic Transit Group will retain a 33.3% stake in the construction of the project, whilst Aecon and ACS Infrastructure will each own 50% equity in the 30-year maintenance agreement.
“The Finch West light rail transit will be a significant addition to Toronto’s transit system and Aecon is pleased to play a key role in connecting communities across the Greater Toronto Area,” Beck continued.
It is forecast that construction of the project will begin in Q2 2018, with completion set for 2021.
