Daily News Briefs, October 31, 2019

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Commuters Praise a NY Thruway Interchange's Cashless Conversion

Times Herald-Record reports, the New York Thruway’s conversion of the Harriman interchange to all-electronic tolling has received “universal praise from commuters.” It also notes that the switch was coordinated with a $150 million New York State DOT project nearing completion that will improve mobility around State Route 17’s Exit 131, a busy gateway to the thruway in Woodbury. “The twin projects, Orange County Planning Commissioner David Church said, will have an impact beyond the immediate community in making everyday travel better for thousands of people.”

AET (All-Electronic Tolling) New York New York State Department of Transportation (NYSDOT) New York State Thruway Authority

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SNC-Lavalin's New CEO Announces Positive Quarterly Financials

National Post reports, “SNC Lavalin Group Inc named Ian Edwards as its new chief executive, and reported upbeat quarterly results [today]. It marked the first quarter since the company announced it was splitting into two distinct businesses and exiting lump sum turn key contracts, which Edwards called ‘the root cause of the company’s underperformance.’ While the company reported positive net income of $2.8 billion [approximately US$2.13 billion], that number was heavily juiced by $2.6 billion of proceeds from the sale of a 10.01 per cent stake in Ontario’s Highway 407, a toll road that encircles the Greater Toronto area.”

407 ETR Concession Canada Company and Agency Financials SNC-Lavalin Group

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Malaysia's Toll Road Privatization Process Stalls

The Straits Times reports, “There are three private offers on the table to take over Malaysia’s biggest toll-road operator PLUS Malaysia, but the managing director of the company’s majority shareholder, Khazanah Nasional, said the government is in no mood to sell it away.” The article notes that the Malaysian government is still searching for a way to reduce toll-road fees, a key part of its election commitment.

Malaysia P3

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These are just some of the toll industry developments TRN is following.

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