Feds announce $758 million to help TTC buy new subway trains [Yahoo! Finance Canada]
ALSTOM UNSP/ADR (ALSMY)
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Source: Yahoo! Finance Canada
A year ago, Ontario and the City of Toronto each committed $758 million so the Toronto Transit Commission could buy 55 new trains for its east-west subway line. That funding was conditional upon the federal government matching those dollars. Toronto Mayor Olivia Chow says the current fleet of trains on Line 2 is nearing the end of its life. Deputy Prime Minister Chrystia Freeland says the federal government and others would like to see the trains built at the Alstom plant in Thunder Bay, Ont. But interim TTC CEO Greg Percy says they will have an open bid competition to procure the new subway trains. This report by The Canadian Press was first published Nov. 29, 2024. Liam Casey, The Canadian Press Recommended Stories
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