The 407 ETR (Express Toll Route) in Canada, which is managed by Cintra, has announced an increase in tolls, effective 1 February 2006.
Tolls will rise by 8.6%-9.9%, depending on the time of day:
| Peak Hours | Off-peak Hours | ||||
|---|---|---|---|---|---|
| 2006 | ^% | 2006 | ^% | ||
| Light Vehicles | 0.1625/Km | 8.7 | 0.1550/km | 9.9 | |
| Heavy Single Unit Vehicles | 0.3250/km | 8.7 | 0.3100/km | 9.9 | |
| Heavy Multiple Unit Vehicles | 0.4875/Km | 8.7 | 0.4650/km | 9.9 | |
| Figures in Canadian dollars |
407 ETR, in Toronto, is the world’s first all-electronic toll road with the ability to change tolls freely. The toll review mechanism allows the company to raise tolls provided that traffic remains above a given threshold.
Weekday traffic on 407 ETR averages over 347,000 daily trips (work days). In 2004, the road obtained 237.2 million euro in revenues and 172.7 million euro in EBITDA.
Cintra, a toll road and car park company, owns 53.2% of 407ETR, having obtained a 99-year concession to the road in 1999. The contract, which represented an investment of 2.4 billion euro, was the largest privatisation in Canada’s history and, at the time, the largest-ever foreign investment in a foreign toll road headed by a Spanish group.
