France will have to compensate Atlantia-led group if ecotax scrapped: sources
ROME (Reuters) - The French government will have to pay 850 million euros ($1.2 billion) as a compensation to the Ecomouv consortium, led by Italy's Atlantia, if it decides to definitively scrap a road toll know as ecotax, a source close to the matter said.
France had awarded to Ecomouv a contract to build a system to collect the new toll but it later decided not to introduce it, as originally agreed, in 2014.
The compensation is envisaged by a deal between Ecomouv and Paris announced earlier on Monday to solve a dispute over the temporary cancellation of ecotax.
If however Frances decides to introduce the toll from 2015 it will pay 230 million euros per year to the consortium as planned in the contract plus a one-off sum for 2014.
Atlantia owns 70 percent of Ecomouv. Its partners are Thales, telecom operator SFR, railways company SNCF and IT group Steria. ($1 = 0.7366 Euros)