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mig to take off

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    The latest toll hike on Sydney's most expensive motorway seems to be paying off for its owner, Macquarie Infrastructure Group.

    Figures released by MIG yesterday show toll-paying traffic on the Eastern Distributor, also called the M1, grew 3.3 per cent in August compared with the same month last year.

    Average daily traffic, which accounts for all toll-paying trips on workdays, weekends and public holidays, were 38,723, from 37,493 a year earlier. That compares with a 17.8 per cent jump in average daily revenue collected by the Eastern Distributor in the same month.

    The toll increased 14 per cent on April 27 to $4 from $3.50, the motorway's third rise since opening in January 2000.

    A similar trend appears for July, where traffic rose 5 per cent but average daily revenue rocketed 20 per cent above the same month a year earlier.

    MIG, managed by Macquarie Bank, owns 71.35 per cent of the Airport Motorway Group, which owns the M1. MIG also has stakes in other Sydney motorways and a large holding in the 407ETR toll road in Toronto.


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    The average daily toll collected by its M5 Sydney motorway rose 10.2 per cent to $308,645. Average daily tolled traffic rose 9.8 per cent to 96,920.

    Toll-paying journeys on the M4 grew 4.6 per cent to 95,839 in August, lifting average daily toll revenue 4.1 per cent to $207,104.

    MIG securities rose 8¢ to $
 
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