Under this arrangement, the TTC will operate the four Toronto LRT lines under contract with Metrolinx, while Metrolinx's private sector partner maintains the assets.
"The McGuinty government is investing a record $8.4 billion dollars to build the high-quality LRT projects Torontonians expect and deserve," said Bob Chiarelli, minister of transportation. "We are determined to get the best value for taxpayer dollars."
"Metrolinx and the TTC agree on the urgent need to expand transit," said Metrolinx CEO Bruce McCuaig. "This agreement was the result of ongoing, open discussion and we are pleased that we have developed a plan that will achieve maximum value for the province's investment."