Innovonics reaches agreement on major rail project

Melbourne-based Innovonics Ltd has agreed to design, build and supply EDI Rail with communications and surveillance equipment sets for the first 20 trains of Sydney's latest fleet over the next two years.

The recently listed company said it expected to generate approximately $6.5 million in total revenue from the project.

Joint Managing Director of Innovonics, Bill Hopper, welcomed the opportunity to build Innovonics relationship with EDI Rail in New South Wales.

Innovonics has also agreed to maintain the equipment for 15 years for approximately a further $4 million. The maintenance contract will commence and generate revenue in the next financial year.

Innovonics has an $8 million contract to supply EDI Rail with passenger information systems as part of the Melbourne Bayside Trains Comeng fleet refurbishment.

Item provided courtesy of Industry Search