China TransInfo Technology, a leading provider of public transportation information systems technology and comprehensive solutions in the People’s Republic of China has announced the Company was awarded an Electronic Toll Collection (ETC) contract in Shandong Province value at approximately RMB 4.8 million, or roughly USD $0.7 million.
According to the contract, China TransInfo will provide roadside ETC antennas for 39 roads and 4,000 onboard sensors for the Highway Toll Settlement Center of the Shandong Province Department of Communications. The antennas will be installed near highway toll stations to electronically deduct toll fees from cars with onboard sensors without requiring cars to stop or slow down.
At year-end 2008, Shandong Province had 4,285 kilometers of highway, ranking second in China’s provincial highway network. In this same time period, civilian vehicle ownership was approximately 6.0 million, of which 1.7 million were private cars.
“We are delighted to win our second ETC contract, following our first in Zhejiang Province,” commented Shudong Xia, Chief Executive Officer of China TransInfo. “This contract reflects our leading technology and brand. As one of the four companies that possess commercial experience in the ETC market, we are confident that we can further expand our footprint to additional provinces and municipalities in the near future.”
Source: China TransInfo.