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Be the first with the news that moves the market- IBI Group’s (TSX:IBG) joint venture with Gannett Fleming has been awarded a Technical Advisor role for two subway extension projects
- The joint venture, OneT+, will provide services to support the Scarborough and Yonge North Subway Extension Projects
- The Technical Advisory Services Agreement was awarded to OneT+ by Infrastructure Ontario (IO) and Metrolinx
- The projects will introduce new stations, connection hubs, traction power substations, emergency exit buildings, modifications, and special trackwork
- IBI Group (IBG) has not updated since market close on June 29, when it traded for $4.67 per share
IBI Group’s (TSX:IBG) joint venture with Gannett Fleming has been awarded a Technical Advisor role for two subway extension projects.
The joint venture, called OneT+, will provide services to support the Scarborough and Yonge North Subway Extension Projects. These services will support the overall planning, preparation, procurement, and construction of the projects.
OneT+ was awarded the Technical Advisory Services Agreement by Infrastructure Ontario (IO) and Metrolinx. The partnership members, IBI Group and Gannett Fleming Canada ULC, have previously collaborated on Toronto’s Relief Line.
The Scarborough Subway Project is a 7.8 kilometre extension of Line 2, the Bloor-Danforth line. The extension will introduce new stations, connection hubs, emergency exit buildings, traction power substations, modifications, and special trackwork.
The Yonge North Subway Project will support growth in the City of Toronto and York region, including the Cities of Markham, Vaughan, and Richmond Hill. The extension, which will cross jurisdictions, will span over 7 kilometres north, with six stations already envisioned.
Bryan Mulqueen is the board of directors member responsible for Gannett Fleming’s Canadian portfolio. He commented on the new projects awarded to OneT+.
“By adding new stations and new connection hubs to other modes of transportation across more than 15 kilometres of track, these two extensions will improve the traveller experience and help manage congestion.
“We look forward to providing efficient and effective project delivery, and delivering the innovative and responsive services our clients have come to expect,” he said.
IBI Group (IBG) has not updated since market close on June 29, when it traded for $4.67 per share.
