Vinci to build US$4.3bn Canada subway
10 November 2022
Vinci Construction Grands Projets has been awarded the US$4.3 billion civil contract for the design-build-finance of a major portion of the new Ontario Line, Canada, in a 50/50 joint venture with Ferrovial.
The company says that the project will form part of the future 15.6 km Ontario Line subway that will run from the Ontario Science Centre to the Exhibition/Ontario Place in Toronto.
The contract, worth CAN$6 billion (US$4.3 billion), covers financing, design, and construction of the civil engineering, excluding rail equipment, for a 2 x 6 km twin-tube tunnel, together with seven new stations on a general contracting basis. The financing is said to be partly mobilised by the contractor and includes a bank facility mobilising an international pool of eleven banks, including three Canadian.
Vinci says that the Ontario Line is a major infrastructure project that will reduce congestion, cut travel times and drive sustainable development in the City of Toronto. The project will require 89 months of work with an expected delivery date of 2030.