|
Van Elle Holdings PLC on Friday said its Canadian rail subsidiary has been awarded two contracts totalling around £30.6 million by ONxpress, a consortium responsible for an infrastructure upgrade programme for the Toronto rail network. The Nottinghamshire, England-based ground engineering contractor said it would supply overhead electrification and other lineside foundations to the GO Expansion programme, ahead of the project’s delivery phase. The GO Expansion is worth a total of C$20 billion, or £11.1 billion, and is being undertaken on behalf of Ontario’s local public operator, Metrolinx. Van Elle will be awarded the contract in the second half of 2025, for delivery through to 2028, and expects the contract to be worth more than C$50 million, or £27.8 million, for the group. In addition to this first contract, Van Elle has also been awarded a second contract to undertake track bed investigation works for the GO Expansion programme. Works will run through 2025 and the contract is expected to value at more than C$5 million, or £2.8 million. Chief Executive Officer Mark Cutler said: ‘We have established a very capable team in Ontario, focused on our specialist geotechnical and on-track rail delivery solutions, and have completed several schemes in the last six months. These contract awards align us closely with our strategic customers ONxpress and Metrolinx and underpin our confidence in developing a specialist rail business of scale in Canada over the next three years.’ Shares in Van Elle were up 1.2% at 41.00 pence each in London on Friday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
