ST Engineering unit bags $1.47b worth of tolling system contracts in New Jersey
The contracts will last beyond 10 years.
ST Engineering's subsidiary TransCore LP (TransCore) secured two contracts worth $1.47b to modernise toll collection systems in New Jersey.
In a bourse filing, ST Engineering said TransCore bagged the $1.25b contract from New Jersey Turnpike Authority (NJTA) and inkled the $218.2m deal with South Jersey Transport Authority (SJTA).
Under the 10-year NJTA project, TransCore will design, install, operate, and maintain the tolling systems on the 241km Garden State Parkway and 209km New Jersey Turnpike.
For the STJA project, TransCore will work on the design, installation, operation and maintenance of an All-Electronic Tolling (AET) system on the 72km Atlantic City Expressway for 12 years.
TransCore will implement its flagship Infinity Digital Lane SystemTM to replace the existing tolling infrastructure and serve as a system integrator for the two agencies.