Ferrovial achieves financial closure on the construction of Ontario Line subway in Toronto (Canada) for CAD 6,000 million

Press releases

Ontario Line
  • It will be the Construction division’s largest-ever project
  • The project includes building an approximately 7-km section of the Ontario Line subway in Toronto, with seven stations
  • The company has extensive experience in building underground rail projects in Madrid, Londres, Paris, Lisbon, Sydney, Porto and Santiago de Chile.

Ferrovial’s Construction subsidiary, in consortium with VINCI Construction Grands Projets, has achieved financial closure on a project to design, build and finance a section of the Ontario Line subway in Toronto, Canada. The initiative, worth CAD6,000 million (€4,450 million), is financed by a syndicate of 11 banks through a seven-year revolving credit facility of approximately CAD1,160 million  (€860 million euros). This is the largest project to-date for Ferrovial Construction.

The Ontario Line Southern Civil, Stations and Tunnel contract involves building a section of the line linking the Exhibition/Ontario Place station to the Ontario Science Centre via construction of 6 kilometres of twin bored tunnels and seven stations to be built along the route, six of them underground. The Ontario Line will improve access to much-needed transit in Toronto, with ridership estimated at up to 388,000 boardings each day by 2041. The new line will provide more than 40 connections to other bus, streetcar, light-rail transit and regional rail services. Construction for the southern portion will begin in 2023 and is anticipated to be complete in 2030.  Our team expects to employ more than 1,500 local workers during the life of the project.

Extensive experience in large railway projects

Ferrovial has built over 190 kilometers of subway line and 165 stations, evidencing its position as one of the world leaders in the design and construction of large transportation infrastructure. It has undertaken subway construction in various cities around the world, including Madrid, Londres, Paris, Lisbon, Sydney, Porto and Santiago de Chile, and was recently awarded the construction of a section of line 18 of Paris Metro, in France, linking Orly airport with Versailles Chantiers.

Ferrovial has been present in Canada for more than 20 years with iconic projects such as 407 ETR in Toronto. Highway 407 was the world’s first free-flow toll road. The company has also extended the highway in two phases — a 20-kilometer Phase 1 and a 32-kilometer section 2 — as well as replacing the old Nipigon Bridge (Ontario) with a new four-lane bridge.


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