Ferrovial reports on developments at the 407 ETR in Canada (I)

Press releases

Further to the information released on 3 February 2004, the company holding the concession to the 407 Express Toll Route in Toronto (Canada) sought an injunction against the Government of Ontario´s claim that the increase in tolls at the 407 ETR without the Administration´s authorisation constituted a breach of the concession contract. The Ontario Superior Court has issued a decision by virtue of which the Government of Ontario´s declaration of breach of contract is invalidated until the dispute between the Administration and the concession company about the toll increase system is resolved through arbitration as envisaged in the concession contract, so that the parties´ rights are protected until the dispute has been settled. As previously announced, the preparatory measures have already commenced.


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