Ghella consortium reaches financial close on the Yonge North Subway Extension Advance Tunnel project in Ontario

Toronto, Ontario – August 6, 2025: Ghella announced today that North End Connectors, a consortium in which Ghella holds a 33,3% stake, has reached financial close with Infrastructure Ontario (“IO”) and Metrolinx on the Yonge North Subway Extension Advance Tunnel project in Ontario. The contract is valued at $1.4 billion.

North End Connectors, comprised of Ghella, Aecon Group Inc. (TSX: ARE) and FCC Construcción (“FCC”), will design and construct an approximately 6.3-kilometre tunnelled segment, launch and extraction shafts, and headwalls for emergency exit buildings and stations. The scope of work also includes the supply of tunnel boring machines, the installation of tunnel liners and other supporting activities.

The project will extend the TTC’s Line 1 subway service approximately 8 kilometres from the existing terminus at Finch Station in Toronto to York Region, serving communities in Markham, Vaughan and Richmond Hill.

Further information about the project is available on the Infrastructure Ontario and Metrolinx websites.

Press release