Phase 2 involves construction of a depot and workshop, track, stations, electrification, power supply, signalling, telecommunications, and a control centre. The contract will also include the supply of 18 six-car trains, with each train consisting of two trailers and four motor cars. In addition, Phase 2 covers project supervision and consultancy.

The metro project is being funded 50% by the Metropolitan District of Quito and 50% by a mixture of loans arranged by the Ministry of Finance with the European Investment Bank, the Inter-American Development Bank, and Corpración Andian de Fomento, plus government equity of $US 40m.

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