Province Invokes Mediation With 407 ETR
TORONTO, January 22, 2004
The Province of Ontario has initiated the dispute resolution provisions of the contract between the Government of Ontario and 407 ETR.
In a letter earlier this week, the Government provided notice of its use of provisions in the Concession and Ground Lease Agreement (CGLA) to determine whether a toll increase requires a change request.
407 International Inc. is the sole shareholder, operator and manager of 407 ETR, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc. is owned by a consortium comprised of the Canadian subsidiary of Cintra Concesiones de Infraestructuras de Transporte (co-owned by Grupo Ferrovial and Australian-headquartered Macquarie Infrastructure Group) and Canadian-based SNC-Lavalin.
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For more information, contact:
Kenneth A. Walker
Chief Financial Officer
Dale A. Albers
Manager, Public Relations