The new streetcars will be used on the LRT lines being built in Toronto. ((Courtesy Metrolinx) )

Metrolinx will spend nearly $800 million to buy new light rail vehicles for Toronto's new transit  lines.

The announcement was made Monday by Ontario Transportation Minister Kathleen Wynne and Metrolinx CEO Rob Prichard.

The new streetcars will be purchased from Bombardier and the final assembly will take place in Thunder Bay.

Metrolinx also received approval for its so-called 5 in 10 Plan from the provincial government.

It means its top five transit projects, four of which are in Toronto — the Sheppard East LRT, the Eglinton Crosstown LRT, the Finch LRT and the Scarborough RT replacement and extension — will go ahead, and be completed within 10 years.

The fifth project is York Region's VIVA bus project. 

The purchase of the 182 LRVs will cost $770 million. The agreement also includes an option to purchase up to 118 additional light rail vehicles.

"We know that the Big 5 transit projects are integral to an economically vibrant and sustainable future for a part of the province, which is expected to grow considerably over the coming decades," said Wynne in a news release.

The 5 in 10 Plan was created after this year's provincial budget deferred $4 billion from Toronto Mayor David Miller's Transit City project. 

"Committing to buy these vehicles is a crucial milestone in realizing these four major rapid transit projects in Toronto," said Prichard.

The LRVs will arrive between 2013 and 2020.

The LRVs will differ from regular TTC streetcars in one important way — they will have drivers cabs at both ends of the car, which means the LRVs can be driven from either end.