Roadside Real Estate Share Discussion Threads

[knowing] 19/1/2007 19:41

The idea of tracking every vehicle at all times is sinister and wrong. Road pricing is already here with the high level of taxation on fuel. The more you travel - the more tax you pay.

It will be an unfair tax on those who live apart from families and poorer people who will not be able to afford the high monthly costs.

Please Mr Blair - forget about road pricing and concentrate on improving our roads to reduce congestion.

[grupo] 10/12/2005 18:02

Vinci swoops to conquer in French toll-road sell-off


 


  By : Ross Tieman in Toulouse December 11, 2005  


FRENCH construction group Vinci will this week emerge as Europe's largest operator of toll roads, carrying off the plum in a E15bn ($17.5bn, £10bn) auction of French state owned toll-road assets.

The company has bid E6bn for 51% of France's biggest toll-road company, Autoroutes du Sud de la France. A successful bid will make Vinci the European leader, with 4,104km of roads under management. It would push it ahead of Italy's Autostrade, controlled by the Benneton family which hitherto enjoyed sector leadership with 3,408km network and a capitalisation of E11.3bn. Vinci already controls France's fourth largest toll-road company Cofiroute.

Autostrade is hoping to improve its position through its minority position in a consortium bid, worth E4.8bn, for 72% of French second largest operator Groupe APRR. The Italian group has teamed up with the French state investment bank, Caisse des Dépôts et Consignations (CDC), and insurers AGF, Predica and AXA to bid for APRR, which operates 2,260km running from Paris down to the Rhône Valley and Côte d'Azur.

French finance minister Thierry Breton may be tempted to give second prize in his selloff to French construction group Eiffage, builder and operator of the spectacular Millau Viaduct. Eiffage has teamed up with Australia's Macquarie Investment Group to make a rival bid for a controlling stake in APRR, a E6bn company twice its size.

Another beneficiary from the sell-off looks to be Abertis Infrastructuras, which operates 1,574km of Spanish toll roads, 68% of the country's network. Controlled by La Caixa bank and construction group ACS, Barcelona-based Abertis is an aggressive consolidator, owning 7% of Autostrade and 10% of Portuguese quoted toll-road group Brisa. Abertis, backed also by the CDC, Predica and AXA, plus Peugeot family holding FFP, has outbid all comers in the auction of Sanef, the state-controlled French road company that takes motorists south and east from Calais, offering E4bn for the 76% stake on offer.

Adding Sanef's 1,743km network will almost double the size of Abertis' operations and confirm the global ambitions of a group that runs two shadow toll roads in Britain, the 21km A1-M and 52km A419/417, as well as 433km in Latin America.

Thanks to the Continental European toll-road tradition, mainland road operators and construction groups are emerging at the head of a stock market sector that offers pre- dictable revenues, surprising growth prospects through diversification into management of other infrastructure assets and the possibility of more consolidation.

Under French rules, winners in the government auction will be obliged to bid for minorities in all three quoted road operators. Investors in Sanef, floated this spring, will see its shares valued more than 30% above the price they paid, and those who bought ASF and APRR shares earlier will also see a tidy profit crystallised. But in practice, each winner is likely to keep the quote.

To the embarrassment of the French government, Vinci boss Antoine Zacharias positioned himself to be the sole bidder for ASF by scooping up 23% of its shares in the market after it was floated in 2002.

That audacity will now pay off as he extends its European horizons. In addition to controlling Cofiroute, Vinci has 42% of the Dartford crossing operator, as well as owning and operating the two Severn toll bridges between Bristol and Cardiff.

The consolidation of transport infrastructure operators will take a leap forward this week, but that won't be the end of it.

[waldron] 29/11/2005 14:19

The great toll-road test drive
Ray Massey, Daily Mail
29 November 2005
CONTROVERSIAL pay-as-you-drive tolls took a leap forward yesterday with the announcement of seven pilot schemes costing £7m.

It is the first practical step towards Labour's plan of reducing congestion by pricing millions off the roads and could eventually see charges of up to £1.30 a mile on the busiest stretches at peak times.


The announcement came as business bosses at the CBI conference in London criticised the Government for presiding over a 'decrepit' and declining transport system after eight years in power.


Gridlock alone is costing UK business an estimated £20bn a year.


Yesterday Transport Secretary Alistair Darling said that local authorities in Somerset, Cambridgeshire, Durham, Manchester, Shropshire, Tyne & Wear and the West Midlands will share £7m from an £18m fund set up to develop public transport and cut congestion.

The Government aims to use the trials to develop a national toll system by about 2014.


Although motorists will not be charged at this stage, when the first fully-operational regional pilot starts in five years, drivers there will be.


Cars will be fitted with an electronic 'black-box' - a tiny computer hidden in the dash board containing details of the make, size, owner - and a billing address.


They will clock up charges like taxi meters, though costs will vary depending on the time and congestion level.




Two main tracking systems are being explored. One uses existing satellite navigation technology to check the location of every vehicle.


Another is the so-called 'tag and beacon' method where a car's movement is monitored by roadside beacons. The two biggest trials will be a £2.6m West Midlands scheme and a one in Greater Manchester costing £1.25m.


The Manchester trial includes measures such as road charging and workplace parking levies.


The West Midlands scheme is looking at a 'innovative pricing techniques' different from London's congestion charge. It costs £8 a day to enter the capital.


Motorists currently pay more than £43bn a year in road taxes, including fuel and vehicle excise duty. Mr Darling says the pay-as-you drive tolls will replace current road tax and petrol duty - though sceptics are doubtful.


He said local schemes were essential to 'the development of a national road-pricing scheme'. Mr Darling told the CBI national conference in London: 'I am convinced that without more radical measures, including more effective demand management and actively managing traffic flows, road congestion will get worse. That is why I've been very clear about the need to look at road pricing.'


Mr Darling supported extending the M6 Toll road from Birmingham to Manchester. He also welcomed the new hi-tech M42 with variable speed limits near Birmingham where motorists face fines if they exceed the lower limits enforced at busy times.


CBI director general Sir Digby Jones said: 'It is clear that business still finds it far too difficult to get its goods to market and its people to work. The Government must ensure more is done now to improve the transport network.'


Tory Transport spokesman Alan Duncan said: 'Eight years after coming to power, Labour's pledge to make Britain's transport system the rival of any in Europe is looking pretty hollow.'

[grupo guitarlumber] 23/8/2005 06:23

French toll road selloff draws 18 bids, led by French, Spanish cos UPDATE

(updates with details of bidders)
PARIS (AFX) - The government said it received 18 non-binding bids for the
state's holdings in France's toll motorways, with French and Spanish transport
and construction companies heavily represented.
In an overnight statement, the Finance Ministry said it was pleased by the
"high" number of bids for its 50.3 pct stake in Autoroutes du Sud de la France
(ASF), 70 pct stake in Autoroutes Paris-Rhin-Rhone (APRR) and 75 pct stake in
the Societe des Autoroutes du Nord et de l'Est de la France (Sanef).
Companies that chose to declare their bids overnight included Autostrade
SpA, Le Figaro reported. The Italian motorway operator joined a French
consortium bidding for the stake in APRR also grouping state-owned Caisse des
Depots et des Consignations (CDC), AGF, AXA, and Credit Agricole.
That bid will be pitted against one other declared candidate for APRR:
Eiffage and its Australian partner Macquarie.
Le Figaro also said Vinci SA confirmed it is bidding for overall control of
its ASF affiliate.
Meanwhile in Madrid, Expansion cited Fomento de Construcciones y Contratas
SA, Sacyr Vallehermoso SA and Abertis Infraestructuras SA as all saying that
they are participating in the sell-off.
The financial daily said Sacyr presented a bid for APRR - via its Itinere
unit -, adding that FCC declined to specify which operator it is bidding for.
Cintra Concesiones de Infraestructuras de Transporte SA declined to comment
on whether it is presenting an offer, the newspaper said.
Today's Financial Times said without naming sources that Itinere had bid for
both APRR and Sanef, while ASF has attracted at least one Spanish bid.
The French government, which hopes to raise at least 10 bln eur from the
operation, will select the winners in the autumn.
It said it will choose preferred bidders based on the price, strategy,
labour impact and public service guarantees they are proposing.
Though it declined to name any of the candidates, the ministry said its
success in attracting 18 candidates making offers for shares in one or more of
the groups was thanks to its "open and transparent" auction method.
The government has said it will not name the bidders until the autumn, but
according to a French radio report it may do so in the coming 48 hours.
[e-mail]
mrg/jg/jms

[waldron] 26/7/2005 09:17

LONDON (AFX) - John Laing PLC, together with consortium partners Autostrade
Spa and IIG LLC, a transport infrastructure development company based in
Virginia, has submitted a proposal to the Virginia Department of Transportation
("VDOT") to establish a toll road concession under the Virginia Public Private
Partnerships Transportation Act 1995.
VDOT is accepting alternative bids for the contract for the next 90 days.
The project, involving over 1 bln usd of total funding and a proposed 50
year concession, is aimed at enhancing the operation of the 14 mile Dulles Toll
Road ("DTR"), which lies between Washington DC and Dulles International Airport,
and to provide a major portion of the financing to extend rail services from the
city to the airport.
If the current proposal is successful, John Laing said its equity commitment
will be "substantial" but is unlikely to be greater than the amount the group
has previously invested in individual major concessions such as the Ministry Of
Defence Main Building, London, and the Chiltern Railways concession.
[e-mail]
slm/

[waldron] 16/7/2005 14:05

France set for motorway sell-off

France needs the money to help cut its public deficit
The French government is preparing to sell its controlling stakes in France's three main motorway operators.
The sale would happen in the next few days, triggering full takeover bids for the firms, La Tribune newspaper said.

The government said last month that it planned to sell its stakes in the firms over the next eight to 10 months, raising 11bn euros (£7.6bn; $13.4bn).

Paris needs the cash to help cut France's public debt below the eurozone target of 3% of gross domestic product.

Takeover interest

La Tribune added the first invitation to tender could be made ahead of a forthcoming initial public offering for shares in French utility giant Electricite de France.

The three motorway operators are Autoroutes du Sud de la France (ASF), Societe des Autoroutes du Nord et de l'Est de la France (Sanef) and Autoroutes Paris-Rhin-Rhone (APR).

ASF could be taken over by French construction giant Vinci, which already holds a 23% stake in the firm, La Tribune reported.

Rival construction group Bouygues is also thought to be interested in taking over a motorway operator.

[ariane] 22/6/2005 08:11

Bouygues Motorways Hint Could Lift Some Shrs

Wednesday, June 22, 2005 3:19:50 AM ET
Dow Jones Newswires



0711 GMT [Dow Jones]--Bouygues (12050.FR) statement that it's officially interested in looking at motorway privatization plans in France could spark speculation in shares of Sanef (415156.FR), Autoroutes Paris-Rhin-Rhone (680700.FR), says Aurel Leven. Has EUR45 target on Sanef, EUR51 target on APRR. (GLK)

[grupo] 12/1/2005 12:10

FRANKFURT (AFX) - Siemens AG is on the short list of bidders for a contract
to install a motorway toll system in the UK, Wirtschafts Woche magazine said in
a report to be published tomorrow, citing sources close to the matter.
Aside from Siemens, two consortia are on the short list -- one consisting of
BT Group PLC and Thales SA and the other of International Business Machines
Corp, Serco Group PLC and Switzerland's Fela Management AG.
Meanwhile, DaimlerChrysler AG and Deutsche Telekom AG's IT unit T-Systems
are no longer being considered due to liability regulations, but they may
re-enter the bidding process by joining up with one of the finalists, the
magazine said.
"We are thinking about otherwise participating," it quotes DaimlerChrysler
Services as saying.
[e-mail]
ms/hjp

[grupo] 12/1/2005 07:28

PARIS (AFX) - Vinci unit Eurovia said it acquired UK road construction and
maintenance company T.E. Beach (Contractors) Ltd via its UK subsidiary Ringway.
Terms of the deal were not disclosed.
slb/ros/liu/jlw

[maywillow] 17/12/2004 08:17

LONDON (AFX) - Balfour Beatty PLC said InterRoute, a joint venture between
Balfour's RCS unit and Mott MacDonald, has been awarded a new road management
and maintenance contract worth as much as 400 mln stg.
The five-year contract, which will start on July 1 2005, is worth between
50-80 mln stg a year and has an option for a possible two-year extension.
The contract covers the network of trunk roads and motorways in
Gloucestershire, Wiltshire, Somerset, the greater Bristol area and parts of
Devon and Dorset.
[e-mail]
jc

[grupo guitarlumber] 11/11/2004 08:28

FRANKFURT (AFX) - Deutsche Lufthansa AG said it plans along with Allianz AG
and private equity company Apax to list their unit Autobahn Tank & Rast Holding
AG, the German motorway service-station group, on the stock exchange.
das/ab

[grupo guitarlumber] 09/11/2004 09:20

French toll-road shares go on sale
Ross Tieman, Evening Standard
9 November 2004

THE network of French toll-roads leading to Alpine ski resorts and the Mediterranean coast will go on the block today, as British bank HSBC begins marketing shares in Societe des Autoroutes Paris Rhin-Rhone.



The company is raising up to €1.35bn (£940m) through the sale of new shares equal to up to 32.5% of the enlarged capital in an initial public offer valuing the group at €4.15bn.



Some 70% to 30% of the shares will be available to international institutional investors through a placing*, though this will be cut back if French retail demand proves strong.



The French government is offering up to 36.7m shares at a price in the range of €38 to €43 for institutions*, and €37 to €42 for French retail investors.



The cash will be used to pay down the company's debts of €6.79bn and rebuild shareholders' funds of €150m.



Its net profits last year were €102m on revenues of €1.47bn, but strong traffic growth and reduced debts should enable rapid increases in earnings.



The institutional placing will close on 23 November, with first trading taking place the next day.

[grupo guitarlumber] 09/11/2004 07:37

French Highway Operator May Raise $1.7 Billion in Share Sale
Nov. 9 (Bloomberg) -- Societe d'Autoroutes Paris-Rhin-Rhone, Europe's third-biggest highway operator, plans to raise as much as 1.35 billion euros ($1.74 billion) in what could be France's largest share sale this year, the company said.

The state-owned company will sell stock to institutions in a range between 38 euros a share and 43 euros a share and to individuals for a euro less, the company said in an e-mailed statement.

Autoroutes Paris-Rhin-Rhone plans to give further details of the sale of as many as 32.68 million shares, or the equivalent of the 40 percent of outstanding shares, at a press conference in Paris at 10:30 a.m. today, the spokesman said.

``The highway operators are real cash-generating machines,'' said Bruno Catoire, a fund manager at Cholet-Dupont Gestion SA in Paris, which manages $1.5 billion. He plans to buy shares in the offer. ``It's a company with good visibility in terms of profits and it will have less debt after the share sale.''

Paris-based Autoroutes Paris-Rhin-Rhone, which manages 2,205 kilometers (1,370 miles) of highways, said last month it expects to increase both revenue and profit this year after it raised tolls on Oct. 1. Finance Minister Nicolas Sarkozy said in May he wants to increase the capital of toll-road operators to enable them to pay higher dividends to the government for projects, including extending high-speed rail links and expanding airports.

In addition to the main issue, the company may sell an additional 2.39 million shares if there is sufficient demand and plans to sell 1.69 million shares to employees. If all these shares are sold, total funds raise could reach 1.35 billion euros.

The French government raised 1.16 billion euros in a June share sale of Snecma SA, the world's third-largest maker of commercial aircraft engines.

Increased Dividends

Funds raised from the sale will be retained to help reduce debt and increase dividends, the company said in an Oct. 15 statement. The company published an ``initial document'' that serves as a preliminary prospectus with the French market regulator on Oct. 14.

Lehman Brothers Inc. and Societe Generale SA are advising on the sale. HSBC Holdings Plc is advising the government. Officials at Lehman and Societe Generale declined to comment. HSBC didn't immediately return phone calls.

Autoroutes Paris-Rhin-Rhone's first-half profit rose by a third to 62 million euros as debt costs declined. Sales gained 2.3 percent to 727 million euros. The company said in September that earnings are expected to increase for the full year. The company had debt of 7.44 billion euros at the end of June, a decrease from 7.96 billion euros a year earlier.

Trading

Autoroutes du Sud de la France SA, Europe's second-largest operator of toll highways, said in July that it expects traffic on its system to grow as the population of southern France expands by more than 35 percent by 2030. The company's stock began trading in March 2002 after the government sold a 49 percent stake.

The Autoroutes du Sud sale was 19 times oversubscribed andraised 2.6 billion euros after selling shares at 25 euros each to money managers and at 1 euro less to individuals. ASF shares now trade at 36.92 euros a share and are up 10 percent this year.

The government plans to sell a stake in Societe des Autouroutes du Nord et de l'Est de la France early next year, the Finance ministry said in a July statement.

[waldron] 02/11/2004 08:56

Road toll up by 'at least £1'


Londoners will be consulted on the charge rise
The congestion charge will rise to "at least £6", Ken Livingstone has said.
The Mayor of London told BBC London on Monday that the £5-a-day toll will increase by at least £1.

He said: "I don't like putting up taxes and fares. I have always said that during this term it will go up by at least £6. "

He later added no final decision would be made until Londoners had been consulted. The new fare could be in place by early December.

He added: "You put it up the minimum you need to, to do what you have got to do. It won't be less than a pound."

The congestion charge will be put on hold between Christmas and New Year to help boost business.

The toll will be suspended on the three working days between 25 December and 3 January.

A recent report by Transport for London found by 2010 congestion will increase by 8% and carbon dioxide emissions are also set to increase, suggesting the road toll is failing to reduce traffic.

[waldron] 01/11/2004 16:17

LONDON (AFX) - The London congestion charge is to rise to at least 6 stg,
the London Evening Standard reported citing Ken Livingstone, the capital's
mayor.
Livingstone is quoted by the newspaper as saying the increase in the charge
from the current 5 stg "won't be less than 1 stg".
"I have always said it would be in the region of 6 stg in this term. I think
doubling it would be too much," he said.
The mayor is today meeting transport commissioner Bob Kiley to consider the
options, the Standard added.
The congestion charge is run by Capita Group PLC, the business services
group.
jdd/slm/

[grupo] 31/10/2004 16:14

MUNICH (AFX) - Transport Minister Manfred Stolpe said he expects Germany's
first road toll system for trucks will be launched in January 2005 as scheduled.
In a speech today at a logistics industry conference, Stolpe said tests
conducted of the devices to be mounted on the trucks to monitor the distances
covered show only a 1 pct margin of error.
The truck toll system is being developed and operated by the Toll Collect
joint venture between DaimlerChrysler AG and Deutsche Telekom AG.
mog/jsa

[maywillow] 18/10/2004 05:59

Chicago toll sale leads way
By Jeremy Grant in Chicago
Published: October 18 2004 03:00 | Last updated: October 18 2004 03:00

Chicago has become the first US city to privatise a toll road or bridge in a landmark $1.8bn project involving Spain's Grupo Ferrovial, one of Europe's largest infrastructure groups, and Macquarie Investment Group (MIG), a unit of Australia's Macquarie Bank.


The deal, unveiled on Friday, is a sign of the increasing appetite among European toll road operators for projects in the US.

"Europe has well-capitalised toll road companies that have become more aggressive about looking for new opportunities around the world," said Mark Florian, a managing director in the municipal merger and acquisition group at Goldman Sachs, which acted as financial adviser.

The transaction could also serve as a model for further privatisations in the US, where many budget-strapped cities and states are under pressure to raise cash.

It involves a 7.8-mile (12.55km) toll road known as the Chicago Skyway built in 1959 and owned by the city. The road will now be operated under a 99-year contract by a consortium involving Cintra, a toll road operator and construction group jointly owned by Ferrovial and MIG. Cintra is set to be spun off this year.

The city of Chicago will receive an immediate payment of $1.82bn, some of which will be used to repay Skyway debt, other city debt and create a "long-term reserve fund" for Chicago.

Chicago, the third largest city in the US after New York and Los Angeles, has total outstanding debt of $5.4bn and has projected a budget shortfall of $220m for fiscal 2005.

City officials this month delayed finalising the city's budget, saying Chicago's financial situation was the most serious in 15 years.

In August, credit rating agency Moody's Investors Service revised its outlook for the city to negative from stable.

Richard Daley, Chicago's mayor, said: "I'm sure that some people will be demanding that we use all of the Skyway proceeds to eliminate the shortfall - and maybe even some new spending programmes. I believe it would be fiscally irresponsible to use all of the money at one time."

The only other such toll road deal in North America was done in 1999 in Toronto, Canada, also involving Cintra.

"Every US governor is going to be looking to see what assets they can now monetise as a result of this [Chicago deal]," said John Schmidt, a lawyer involved in the deal at Mayer, Brown Rose & Mawe.

[maywillow] 20/9/2004 06:49

TOLL CASH GATHERING DUST

More than £60m collected in toll revenue from motorists using the Dartford Tunnel and QE2 Bridge on the M25 is sitting unused in banks.

The cash remains unspent, despite research which rates the tunnel under the Thames among the bottom third in Europe for safety, according to the AA Motoring Trust.


It is calling for the funds to be used to improve safety in the tunnel.

Bert Morris, deputy director of the Trust, said surplus toll revenue of more than £60m had been building up since the crossing - used by 73,000 motorists a day - reverted to public ownership last year.

"This money should be used in the first instance to bring Dartford up to the standards that are now the norm across much of Europe," said Mr Morris.

"The funds should also be used to improve safety in London's other road tunnels and to build new Thames crossings.

"Providing safety systems to modern European standards, and increasing awareness of what people should do in the event of an emergency would help to ensure that this country does not have a tunnel disaster in future," he added.

[ariane] 28/8/2004 16:33

German Truck Toll System Test `Successful,' Der Spiegel Says
Aug. 28 (Bloomberg) -- Germany's truck toll is to start on Jan. 1 following a ``successful'' secret test of the system two weeks ago, German magazine Der Spiegel reported, citing Toll Collect Chief Executive Officer Christoph Bellmer.

About 850 employees of Toll Collect GmbH, which is building the system, tested equipment installed on German highways and at gasoline stations and found the system failed only about 3 percent of the time, the magazine said, citing Bellmer.

Toll Collect, a venture of DaimlerChrysler AG and Deutsche Telekom AG, reached a new agreement with the government in February to operate the satellite-based toll system after Transport Minister Manfred Stolpe canceled the original contract following delays in its implementation.

(Der Spiegel 8-28 preview)

for the magazine's Web site

[waldron] 24/7/2004 15:17

Hauliers lift boycott of M6 toll road
By Paul Marston (Filed: 24/07/2004)


Freight companies expressed delight yesterday at a 40pc cut in truck charges on the M6 toll road, north of Birmingham.



Thousands of HGVs were reported to be taking advantage of the first day of the new £6 tariff, after seven months of a virtual freight boycott of the 27-mile route since its opening last December.

Hauliers were shocked by the initial £10 rate and the majority continued to use the conventional M6, despite time savings of 30 to 60 minutes on the tollway.

Analysts suggested the toll operator, Midland Expressway, was forced to make the price cut because truck numbers were well below target.

The Freight Transport Association said: "There is no doubt that operators regarded the previous toll as too high. We were a long-time campaigner for the new road and are absolutely delighted companies are now using it."

The average daily traffic total on the road has risen from 30,000 vehicles in January to 48,000 last month.

[waldron] 24/7/2004 15:02

Alarm over motorway toll flop
Bill Condie, Evening Standard
23 July 2004

HE Government may have to rethink its toll road policies after the country's first pay-as-you-go motorway fell short of targets set for heavy traffic use.

Operator Macquarie Infrastructure Group (MIG) has been forced to slash tolls on its M6 Birmingham relief road in a last-ditch effort to attract heavy lorries - a key segment for the project.


Analysts say haulage company traffic on the route is more than 80% below the company's target.


MIG's wholly owned Midland Expressway subsidiary has announced toll cuts for heavy goods vehicles from £10 to just £6 until the end of December.


The discount coincided with the start of roadworks on the publicly owned M6 and would help reduce the resulting congestion, Midland managing director Tom Fanning said.


'This new price is unbeatable value for money,' he claimed.


'We expect the haulage industry to welcome this move and look forward to seeing large numbers of lorry fleets using the M6 Toll.'


But it is believed the toll reduction has been necessary because the haulage industry has given the road such a thumbs-down.


Only about 3% of traffic on the motorway is heavy lorries - well short of MIG's target of 14% - and by reducing the toll charge at a time of anticipated greater congestion on the public motorway, the company hopes to get haulage companies used to paying for road usage.


Fanning said an average of 48,000 drivers used the road each day, but did not give a breakdown between lorries and cars.


The toll route was opened in December last year.


At the same time as announcing the incentives for lorries, he said that the introductory discounts for cars and vans would end on 16 August, when standard tolls would rise from £2 to £3.


News of the company's struggle on the toll route comes with MIG a frontrunner for the proposed development of a pay-to-use road worth as much as £1bn to connect with the M6.


Transport Secretary Alistair Darling has outlined a 'consultation proposal' for an extension to the M6 Toll that will run to Manchester, rather than widening the existing road.


As well as lukewarm response from road users, Darling, who would not say how the road would be funded, faces opposition to the project from local residents' groups.


However, if the road were to go ahead, MIG is seen has having a good chance given that Darling has said he considers the M6 Toll 'a success'.


Darling has not said how the new toll road project might be funded.

[ariane] 04/7/2004 17:02

LONDON (AFX) - Special motorway lanes to fast-track commuters to work if
they share their cars are set to be launched in a radical bid to ease the UK's
congestion crisis and cut pollution, The Observer reported.
The newspaper said Alistair Darling, the Transport Secretary, is expected to
unveil plans this week for American-style lanes for the exclusive use of
so-called high occupancy vehicles carrying two or more people.
With fines for single occupancy vehicles caught using the lanes, the first
experimental routes are thought to have been given the go-ahead for parts of the
M1 and M3, it said.
The newspaper added that, if successful, the scheme could be introduced to
congestion hot spots around the country; prime candidates would be the M25
around London and the M6.
It said the move will fuel speculation that the government is preparing to
announce widespread tolling on new road capacity in future.
[e-mail]
jdd/hjp