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12/4/2024
The Ontario government last week announced it will invest C$758 million to support the purchase of 55 new trains for the Toronto Transit Commission’s Line 2 subway.
The dedicated funding is a result of the New Deal for Toronto, an agreement reached last year between the city and the province that ensures the city’s long-term financial security, Ontario government officials said in a press release.
The city of Toronto, the province of Ontario, and the federal government are each funding one-third of the cost to purchase the 55 new trains, Ontario government officials said.
The current 30-year-old Line 2 trains are nearing the end of service life. In November 2023, Ontario committed to the C$758 million in funding for new trains on the condition the federal government match the investment to assist with the city of Toronto’s purchase.
Also last week, Chrystia Freeland, deputy prime minister, announced C$1.2 billion in provincial support for Toronto public transit, Ontario government officials said. The funds are dedicated to multiple projects, including C$330 million to be distributed over three years in operating funding for the Eglinton Crosstown light-rail train and the Finch West light rail, and C$300 million in one-time funding for subways and transit safety, recovery and sustainability.