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.
Between 2018 and 2047 APM Terminals will pay approximately $1 billion for the concession of the new Moin Container Terminal which is currently under construction.
While the bidding for the pre-feasibility study for the highway concession between Escuintla and Puerto Quetzal is underway, the government is considering other routes to put under private management.
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