awarded washington fare collection contract According to Aspect Financial, ERG has been selected (together with Northrop Grumman), the smart card fare collection project for N-E USA.
The area embraces the Washington DC (greater metro area), Maryland and North Virginia transit catchment area.
The contract is apparently got 5 years, plus a 2-year option.
Revenue wise, the contract is not that large, estimated at US$20m in the initial term, "while the overall contract could generate an estimated US$40 mlllion of revenue".
At FX 58.5 conversion, this translate to ~$34m during the initial term, half of which is presumably attributable to ERG (ie: $17m, or $3.4m per annum).
Based, however, on the higher US$40m estimate, this translates to ~$68m, of which ERG's entitlement could approximate $34m.
awarded washington fare collection contract According to Aspect...
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