The 407 Express Toll Route (407 ETR) in Canada, which has been managed by Ferrovial since May 1999, has announced an increase in tolls effective 1 February 2004.
Tolls will be increased by about 8%, depending on the time of day.
Toronto´s 407 ETR is the world´s first operational all-electronic toll road with deregulated tolls. The benchmark traffic figures were established in 2002 and tolls were deregulated in 2003, subject to the condition that traffic on the road should not be negatively affected.
Through its toll road subsidiary, Cintra, Ferrovial owns 67.1% of 407 ETR. The contract represented an investment of 2.4 billion euros and was Canada´s largest privatization ever and the largest foreign investment headed by a Spanish group.