The 50:50 joint venture of Vinci Construction Grands Projects, a unit of Vinci, and Ferrovial has secured a civil contract from Metrolinx, the transit authority for the Greater Toronto region of Ontario, Canada, for the design-build-finance of a major part of the new Ontario Line.
This project will be a part of the future 15.6km Ontario Line subway that will operate from the Ontario Science Centre to the Exhibition/Ontario Place in Toronto.
Valued at $4.47bn (C$6bn), this contract covers financing, design and construction of the civil engineering, excluding rail equipment, for a 2 x 6 km twin-tube tunnel, along with seven new stations on a general contracting basis.
Partly mobilised by the contractor, the financing includes a bank facility tapping a pool of eleven international banks, including three Canadian.
This project will take 89 months to be delivered in 2030.
The Ontario Line is a key infrastructure project that will cut down congestion, and travel times.
It will accommodate 388,000 daily rides by 2041.
Furthermore, it will significantly ease congestion on the current metro line 1, as well as road traffic and the greenhouse gas emissions with about 28,000 vehicles going off the roads on a daily basis.
The contract allows Vinci Construction Grands Projects to become a key player in the construction of mobility infrastructure in North America, and to strengthen its presence in Canada.
For Ferrovial Construction, this is the largest project to-date. The company has built over 190km of subway line and 165 stations in various cities of the world.
Image: This project will take 89 months to be delivered in 2030. Credit: VINCI.