(Alliance News) - Webuild Spa announced Sunday that it has signed, in a joint venture with Fomento de Construcciones y Contratas Canada Ltd, a contract with a total estimated value between approximately EUR700 million and EUR1.3 billion for the development and construction of the "Pape Tunnel and Underground Stations" section of the Ontario Line.

The actual final value will be determined on the basis of the executive design, which is included in the contract.

The new rapid subway line, Webuild explains, will run through Toronto, where the population is expected to grow rapidly from 6 million today to more than 8 million by 2030.

Webuild, with a 50 percent share, is the leader of the joint venture that will design and build the works, commissioned by Infrastructure Ontario and Metrolinx. The PTUS contract for the Ontario Line North will be executed as a "Progressive Design-Build," the company explains in a note, "an innovative contract model that involves close collaboration between client, builder and designer, resulting in lower execution risks in the start-up and construction phase of the project." A de-risking factor that adds to the Webuild Group's overall strategy, which continues to focus on growth in low-risk regions such as Italy, Europe, Australia and, in particular, North America, which have launched major infrastructure development plans in recent years.

The PTUS contract, as a whole, involves the design, construction, supply, and commissioning of three kilometers of twin tunnels, two underground stations, the interface with the Toronto Transit Commission's Line 2, and related works.

The Ontario Line will run from Eglinton Crosstown LRT, at Don Mills Road and Eglinton Avenue, to Exhibition Place in the southwest. Its construction will cut travel time on the route in half to less than 30 minutes from the current 70 minutes.

The Ontario Line will span 15.6 kilometers with 15 stations, six intermodal hubs and more than forty connections to existing subway and regional lines and bus services.

For the Ontario Line, Webuild is already implementing, with the Connect 6ix consortium, the Rolling Stock, Systems, Operations and Maintenance contract, which includes design, implementation of signaling, communication and safety systems, supply of rolling stock, and operation and maintenance of the line.

The PTUS contract will be the third ongoing sustainable mobility project in Canada for Webuild. In addition to the RSSOM and PTUS contracts for the Ontario Line, the group is also undertaking the Hurontario project, with the Mobilinx consortium, to build a light rail line that will run 18 kilometers, near Toronto, along Hurontario Street.

Webuild's stock closed Friday up 0.4 percent at EUR1.91 per share.

By Chiara Bruschi, Alliance News reporter

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