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Aecon consortium reaches financial close on the Yonge North Subway Extension Advance Tunnel project in Ontario

Aecon consortium reaches financial close on the Yonge North Subway Extension Advance Tunnel project in Ontario

Toronto Stara day ago
TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) — Aecon Group Inc. (TSX: ARE) ('Aecon' or the 'Company') announced today that North End Connectors, an Aecon-led consortium in which it holds a 33.3% interest, has reached financial close with Infrastructure Ontario and Metrolinx on the Yonge North Subway Extension Advance Tunnel project in Ontario. The contract is valued at $1.4 billion, and Aecon's $477 million share of the contract will be added to its Construction segment backlog in the third quarter of 2025. Aecon previously disclosed this addition to backlog in its second quarter 2025 financial results, released on July 31, 2025.
North End Connectors, comprised of Aecon, FCC Construcción and Ghella, will design and construct an approximately 6.3-kilometre tunnelled segment, launch and extraction shafts, and headwalls for emergency exit buildings and stations. The scope of work also includes the supply of tunnel boring machines, the installation of tunnel liners and other supporting activities. The project will extend the TTC's Line 1 subway service approximately 8 kilometres from the existing terminus at Finch Station in Toronto to York Region, serving communities in Markham, Vaughan and Richmond Hill.
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