EQS-Adhoc: init innovation in traffic systems SE: Transport for NSW (Sydney, Australia) awarded the contract for the upgrade of the existing ticketing system to INIT

Transport for NSW (TfNSW) in Australia awarded the contract for the upgrade of the ticketing systems for the Sydney Opal network to INIT PTY LTD (INIT), the Australian subsidiary of init innovation in traffic systems SE.

After a profound, confidential tender process undertaken by Transport for NSW, INIT was selected to deliver the Account Based Ticketing solution package for the Opal Next Gen project. The contract comprises an upgrade of the Opal ticketing system using the latest generation of central software and the newest electronic components.

TfNSW estimates the INIT contract value at around AUD 615 million for the design, installation and delivery of the ticketing system, as well as its operation over ten years.

About Transport for NSW

TfNSW is the central transport authority for New South Wales, Australia. It is responsible for setting the strategic direction for transport across the state. This supports the safe and seamless movement of people and goods by road, rail, and water, including buses, trains, metro, ferries, light rail, point-to-point vehicles, on-demand services, and local transport, as well as walking and cycling.

Public transport plays a vital role in enabling the state's approximately eight million residents to travel — an average of around two million trips are made on public transport in New South Wales every day.