Atlas Arteria has acknowledged the Commonwealth of Virginia State Corporation Commission's final order in response to Toll Road Investors Partnership II, L.P.'s request for toll rate increases at the Dulles Greenway.
The application had proposed significant peak and off-peak toll increases, which have been denied. TRIP II had sought to elevate the maximum peak toll by 39.7%, moving from US$5.80 ($8.63) to US$8.10 ($12.05), and to increase the maximum off-peak toll by 21.9%, from US$5.25 ($7.81) to US$6.40 ($9.52).
The SCC's decision to deny the toll hikes has prompted Atlas Arteria to review the final order carefully and consider its available options.
"Atlas Arteria is reviewing the final order and considering all options available to it," stated Clayton McCormack, group executive for legal, risk, and governance.
While the SCC's website hosting the final order is not accessible to non-USA users, Atlas Arteria has made the document available on its website for broader accessibility.
Atlas Arteria, a global entity specialising in toll road management and development, holds varying interests in significant toll road assets across the US, France, and Germany.
The company remains committed to creating long-term value for its investors through disciplined management and operational efficiency.
At the time of reporting, Atlas Arteria's share price was $5.00.