Cintra settles legal dispute over 407 ETR highway with Ontario govt

MADRID (AFX) - Cintra Concesiones de Infraestructuras de Transporte SA said it has reached an amicable agreement with the Ontario provincial government over a range of disputes relating to the Toronto 407 ETR highway.

In a statement, Cintra said agreements have been reached on all outstanding legal conflicts.

The government has agreed to a series of resolutions on areas such as toll increases and the use of 2002 as a base-year in toll determination, Cintra said.

Cintra, on the other hand, will be obliged to add a new lane to the highway through an 100 mln cad investment and implement a frequent users programme and a discount programme for heavy vehicles.

Cintra holds 53.23 pct of 407 International Inc, the full owner of the highway. [e-mail] ped/tr/har COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited