Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

AECOM secures Ontario Line tunnel design contract

EditorNatashya Angelica
Published 02/26/2024, 11:43 AM
© Reuters.
ACM
-

DALLAS - AECOM (NYSE:ACM), a global infrastructure consulting firm, has been selected to provide design services for the Pape Tunnel and Underground Stations (PTUS) contract, part of the Ontario Line project in Toronto.

The Ontario Line is a planned 15.6-kilometer rapid transit line intended to enhance Toronto's public transportation system and reduce travel times for commuters.

The PTUS contract, awarded by Infrastructure Ontario and Metrolinx, involves a multi-stage design process under a Development and Master Construction Agreement (DMCA). AECOM will join the Pape North Connect consortium, which includes Arcadis, Webuild Civil Work Inc., and Fomento de Construcciones y Contratas Canada Ltd., to finalize the project's scope, risk allocation, and pricing.

AECOM's role in the Ontario Line project has expanded, with the company now leading technical design for the full length of the approximately 10-kilometer tunnel works and three interchange stations. Mark Southwell, chief executive of AECOM's global Transportation business, expressed pride in the team's continued support for Infrastructure Ontario and Metrolinx.

The PTUS contract's scope covers three kilometers of twin tunnels under Pape Avenue, two underground stations, three emergency exit and service buildings, and a crossover near Sammon Avenue. The project aims to create thousands of job opportunities annually during construction and bring more than 227,500 Toronto residents within a 10-minute walk of an Ontario Line station.

AECOM is recognized for delivering professional services across the project lifecycle, including planning, design, engineering, and construction management. The company, which reported revenue of US$14.4 billion in fiscal year 2023, emphasizes its commitment to environmental, social, and governance priorities.

This announcement is based on a press release statement, and it reflects AECOM's forward-looking plans for the Ontario Line project. The actual results may vary based on various factors, including economic conditions and project developments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.