Infrastructure Ontario (IO) and Metrolinx have reached financial close with the winner of its $9bn Ontario Line rolling stock P3.
In September, the authority selected the Plenary-led Connect 6ix team as the preferred bidder on the project, beating off competition from teams featuring Aecon and John Laing.
Under the plans, the team will design, build, finance, operate and maintain the entire line’s rolling stock and support infrastructure for 30 years.
The full team features Plenary, Hitachi, Webuild Transdev, Hitachi Rail, IBI Group, Hitachi Rail, and NGE Contracting, and received financial advice from National Bank and SMBC.
Other parts of the line’s development included a DBF contract for its southern portion, which a team led by Vinci and Ferrovil won in September.
Brian Budden, president & CEO of Plenary Americas, said the financial close is an “exciting milestone” and the team looks forward to “working with our partners at Metrolinx and Infrastructure Ontario to help improve capacity, reliability and access to rapid transit across the region”.