By Ed Frankl

Vinci SA's and joint-venture partner Ferrovial SA received a 6 billion Canadian dollar ($4.47 billion) contract to build a new subway line in Toronto, the French infrastructure company said Wednesday.

Toronto's transit authority Metrolinx awarded the project, which covers financing, design and construction of a twin-tube tunnel and seven stations that will form part of the future Ontario Line.

The project will take 89 months for completion in 2030, Vinci said.

The joint venture is 50-50 between Vinci and Spain's Ferrovial, with financing provided by a pool of 11 banks.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

November 09, 2022 12:16 ET (17:16 GMT)

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