The province has announced that it will cost $128.6 million to build a new three-kilometre spur line to Toronto’s Lester B. Pearson International Airport.

AirLINX Transit Partners Inc., a consortium of Aecon Construction and Dufferin Construction, have reached commercial and financial close on the project, paving the way for construction to begin this spring on the spur line and a new passenger station at the airport.

The announcement was made jointly by Infrastructure Ontario and Metrolinx.

The project is expected to create and support more than 1,200 jobs.

The spur line will branch off the Weston Subdivision (GO Georgetown corridor) and connect to a new passenger station at Terminal 1 at Pearson. It will be part of an Air Rail Link (ARL), which is being built by Metrolinx to provide express service every 15 minutes between Union Station and the airport.

Construction of the spur line is expected to be completed by summer 2014.

When completed, travel time between Union Station and Pearson will be approximately 25 minutes.

Premier Dalton McGuinty said the ARL is good for jobs and the economy and visitors who use the airport.

“Its design, construction and operation will be environmentally responsible, ease congestion and make the Greater Toronto Area even more attractive for businesses and investment.”

Metrolinx president and CEO Bruce McCuaig said the ARL is a signature project for the Greater Toronto and Hamilton area.

“Completing the contract arrangements is a milestone which demonstrates our commitment to provide the Air Rail Link in time for the Pan/Parapan Am Games.”

Infrastructure and Transportation Minister Bob Chiarelli said the entire ARL project will create 10,000 jobs in design and construction and take 1.2 million car trips off roads in its first year of operation alone.

“We’re going to construct this link in a way that’s responsible, that offers excellent value to taxpayers and that dramatically reduces the number of cars that travel between Toronto Pearson International Airport and downtown Toronto.”