The 19-stop Hurontario LRT will be built and maintained by a consortium of international companies.

Infrastructure Ontario and Metrolinx signed a contract with Mobilinx worth $4.6 billion to design, build, operate and maintain the project for a 30-year term.

Mobilinx includes European-based companies John Laing, Astaldi, Transdev and Cambridge-based Amico. Hitachi, which is headquartered in Tokyo, Japan, is also in the consortium.

"The names may not be familiar to most," said a Metrolinx update on the project. "But their selection is an important step forward that will enhance the service options of residents and communities in Mississauga and beyond."

In a release, Mississauga Mayor Bonnie Crombie said that with the contract in place, the project is "on track to completion"

"We know construction will be challenging, but I look forward to getting shovels in the ground and trains running up and down our city’s busiest corridor soon," she said.

Brampton Mayor Patrick Brown said in a statement that the LRT is vital to meet future regional demands.

“We look forward to more developments, including discussions on a tunnelled option for the LRT extension that would lead into downtown Brampton,” he said.

The project is anticipated to be finished in 2024, two years later than previously announced.

Hurontario LRT construction is scheduled to start in 2020.