$25 Million Contract of Alternet

Transtech de Guatemala, S.A., a regional subsidiary of a joint venture of Alternet Systems and Tianjin IC Card Public Network Systems Co. LTD has compiled an agreement in Guatemala.

The contract for $25 million and 10-year period foresees the operation and management of a bus prepaid fare collection system, user information systems, fleet management systems and security systems for Transmetro, Inc, the municipality’s transportation company.
 
The systems will serve more than 2.5 million passengers per day and more than 630 million per year, Alternet Systems’ officials state. It is possible to prolong the contract for another 10 years. To arrange the system, Alternet Systems has worked with the largest bank in Guatemala, Banrural, and private investors from the couuntry. Moreover, the company plans to employ its partnership with Pagos Digitales, S. A., with the aim of using their existing distribution and collection channels throughout the city of Guatemala.
 
Alternet Systems’ officials highlighted that their company was picked by TCPS because of the experience of operation that the company had in Latin America.