December 19, 2011 by Andrew Snook
Aecon Group Inc. and Dufferin Construction Company, a division of Holcim (Canada) Inc., have joined forces to build the Air Rail Link (ARL) “spur line” and passenger station at Pearson International Airport.
Aecon announced the financial close of the $128.6-million project, in which it has a 50 per cent partnership. The company will design, build and finance a three-kilometre elevated guideway connecting the Georgetown GO Transit line to Toronto Pearson and a passenger station at Terminal 1.
The “spur line” project is being implemented under the provincial government’s Alternative Funding and Procurement (AFP) program, and is being financed by Canadian Imperial Bank of Commerce, Laurentian Bank of Canada, National Bank of Canada, and The Toronto-Dominion Bank, with National Bank Financial acting as financial advisor.
Construction is scheduled to begin spring 2012 and be completed by summer 2014.