China TransInfo has announced that the Company was recently awarded a provincial highway toll settlement and billing system contract in Shanxi Province valued at approximately RMB 26 million, or approximately USD $3.8 million through its VIE Beijing PKU Chinafront High Technology Co. Ltd (“PKU”).
In addition, the Company was awarded an intelligent transportation system contract in Hubei Province valued at approximately RMB 114 million, or approximately USD $16.7 million through it VIE Beijing UNISITS Technology Co. Ltd (“UNISITS”).
Shanxi Province Highway Toll Settlement and Billing System
For Shanxi Province, China TransInfo will design a highway toll settlement monitoring, management and control center system, establish data analysis and decision platforms, and create a provincial level toll station satisfaction evaluation system. This project represents the first provincial level real-time highway toll settlement monitoring, data mining and analysis system in China.
The system will cover all 135 toll collection stations on 1,063 toll roads in Shanxi Province with nearly 2,000 kilometers of highway coverage. According to Shanxi Province’s highway development plan, highway coverage will reach 5,000 kilometers by year-end 2012.
Hubei Province Intelligent Transportation System
For the intelligent transportation system in Hubei Province, UNISITS will design the traffic engineering electronics and machinery (E&M) system for expressways from Macheng City to Wuhan City in Hubei Province. The USD $16.7 million contract is expected to be completed by year-end 2010.
At approximately 60,300 kilometers at year-end 2008, China’s expressway system is the second largest in the world. Pursuant to China’s 11th five-year plan, expressways will increase to 65,000 kilometers at year-end 2010 and to 85,000 kilometers by year-end 2020.
Source: China TransInfo.