on Init Innovation In Traffic Systems AG (ETR:IXX)
INIT Secures Major Contract to Upgrade Sydney's Ticketing System
Transport for NSW (TfNSW) has awarded a significant contract to INIT PTY LTD, a subsidiary of init innovation in traffic systems SE. This involves upgrading the ticketing systems for Sydney's Opal network. The selection follows a thorough tender process by TfNSW. INIT will provide an Account Based Ticketing solution for the Opal Next Gen project.
The contract entails implementing the latest generation of software and electronic components to enhance the existing Opal ticketing system. TfNSW has estimated the contract value at approximately AUD 615 million. This covers the design, installation, and delivery of the system, alongside its operation over a ten-year period.
R. H.
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