Aecon-led construction consortium awarded $1.2bn transit contract in Toronto
The Mosaic Transit Group, a consortium led by Canadian construction giant Aecon, has been awarded a new $1.2bn contract by transport agency Metrolinx for the building of the Finch West Light Rail Transit project.
The 11km light rail transit (LRT) line will be built through northwest Toronto, connect the Finch West subway rail station to Humber college with a total of 16 stops running the course of the line.
“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.”
Those making up the Mosaic Transit group - Aecon, ACS Infrastructure Canada and CRH Canada – will each retain a 33.3% stake in the LRT project, whereafter Aecon and ACS will each have a 50% equity in the 30-year maintenance contract that Metrolinx has also awarded.
“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.
The building is expected to complete by 2021, construction work forecast to begin in Q2 this year.