City of Guatemala award $25 million contract

Alternet Systems, Inc. announces $25 million contract with the Municipality of the City of Guatemala to provide mass transportation technology services.

Tuesday, December 2, 2008


Alternet Systems, Inc. today announced that Transtech de Guatemala, S.A., a regional subsidiary of the Company's joint venture with Tianjin IC Card Public Network Systems Co. LTD (TCPS), has signed a $25 million contract with the Municipality of the City of Guatemala for the operation and management of a bus prepaid fare collection system, user information systems, fleet management systems and security systems for the municipality's transportation company Transmetro, Inc. The population that will be served by these systems is estimated at more than 2.5 million passengers per day and more than 630 million trips per year. The initial duration of the contract is for 10 years and it is renewable for another 10 years, exclusively.

The services will be deployed in partnership with the largest bank in Guatemala, Banrural, the Company's joint venture with Tianjin IC Card Public Network Systems Co. LTD (TCPS), Transtech Sino America, Inc., and a group of private investors from Guatemala, creating an integrated and seamless service across all buses in the City of Guatemala. Alternet will also leverage a partnership with Pagos Digitales, S. A., to use their already established distribution and collection networks throughout the City of Guatemala.

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