First publishedon www.ITSInternational.com
Tolling specialist Q-Free
has withdrawn from a tender process for an electronic road pricing (ERP) system in Jakarta, Indonesia, due to uncertainty on the tender timeline and outcome.
This withdrawal decision is also based on uncertainty regarding project structure and financing and expected project profitability.
The company says it intends to increase recurring revenues and reduce its reliance on single large projects, and will be more selective when it comes to which contracts it pursues.
The organisational and financial impact of withdrawing from the ERP process will be revealed in due course, Q-Free adds.
In October, Q-Free was chosen by road infrastructure operator Sociedad Concesionaria Vespucio Norte Express to service and maintain roadside equipment in Chile in a seven-year contract, valued approximately valued NOK30 million (£2.7 million).