Traffic Technologies Limited (ASX:TTI) Secures $3M LED Streetlight Contract
Contract Details
Traffic Technologies Limited (ASX:TTI) has secured a significant contract to supply “Smart City IoT” ready LED streetlights to the Sydney City Council. The agreement covers an initial period of five years with a total estimated value of $3 million. If the option to extend the contract is exercised, the total value could reach $5 million over nine years.
Project Scope
The contract involves the provision of LED streetlights for various public domains, including roads, parks, and footways within the City of Sydney’s Local Government Area. This initiative aims to replace existing streetlights at the end of their service life, while also accommodating network growth and maintenance needs.
Executive Comments
Managing Director Con Liosatos expressed enthusiasm for the award, stating, “The award of this contract to one of the most prestigious local government areas in Australia is a fantastic vote of confidence in the Company’s state of the art LED streetlights.” He noted that the lengthy contract duration offers ample opportunities for Traffic Technologies to supply additional products throughout the Sydney area.
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