[Public Notice+] Estrafic Wins 11.3 Billion KRW Contract for Azerbaijan Traffic Information System Construction Project

[Asia Economy Reporter Eunmo Koo] Estrafic announced on the 11th through a public disclosure that it has won a contract worth a total of 11.3 billion KRW for the Azerbaijan M1 Expressway CCTV and Traffic Information System construction project. The contract amount corresponds to 14.2% of last year's consolidated sales, and the contracting party is the local expressway maintenance company Baku Maintenance Unit 1. The construction will be carried out over one year from November this year to November 2021.

Estrafic plans to install a comprehensive traffic management system including traffic management CCTV, overloaded vehicle management system, and traffic control center on the M1 Expressway. The purpose is to enhance driving safety and management efficiency on the M1 Expressway, which stretches a total of 200 km from Baku, the capital of Azerbaijan, to the Russian border.

The company evaluated that this contract is significant as it is the third road traffic system construction project related to Azerbaijan. Estrafic is currently carrying out the M1 and M3 Expressway toll collection system construction projects through orders totaling 21.5 billion KRW in 2018 and 2019. This is the first case of exporting the Korean-style toll collection system as an overseas national standard.

A company official stated, “Winning a new project for the M1 Expressway, which is like the artery of Azerbaijan, was possible thanks to the trust in our technology gained from the past toll collection system project.” He also added, “This order is expected to serve as a foothold to participate in other expressway projects currently under construction,” and “Furthermore, we will diversify overseas markets such as Kuwait and Thailand with solutions tailored to local needs.”