BAKU, Azerbaijan, Dec. 25
By Nargiz Sadikhova - Trend:
Consortium of companies Far Eastern Electronic Toll Collection Co LTD (Taiwan) and Computer Vision Technologies LLP (Kazakhstan) has signed an investment agreement with Kazakhstan’ KazAvtoZhol National Company, Trend reports with reference to the press office of Kazakhstan’s prime minister.
The agreement provides for the development of intelligent systems in country’s road sector and expansion of toll roads of national importance in accordance with the Nurly Zhol State Infrastructure Development Program.
According to the agreement, the Consortium will introduce charging system at 11,000 km of roads in Kazakhstan.
The project will be implemented in two stages: system will be introduced at 5,700 km of roads in 2021 and at 5,300 km in 2021-2024.
Value of Consortium’s investments will exceed 25 billion tenge ($65.5 million) with a return period of 11 years. Following the project’s implementation and return on investment, the Infrastructure Charging System will be transitioned to be Kazakhstan’s property represented by KazAvtoZhol, national roads operator.
The project will increase the competence of local companies in area of intelligent transport systems, ensure funding for the quality maintenance and preservation of roads, as well as reduce accident rates.
The software is integrated into the existing Payment System of KazAvtoZhol company.
---
Follow the author on twitter: @nargiz_sadikh