News

15Mar, 11

IRD Announces New Contract Awards in India Valued at CDN $1.5 Million

Saskatoon, SK March 15, 2011 – At a reception in Mumbai, India the wholly owned subsidiary IRDSA (IRD South Asia Pvt. Ltd.) of International Road Dynamics Inc. (IRD) signed three contracts with customers with a total value of approximately CDN $1,500,000.

The signing ceremony took place at a reception attended by numerous customers, the Premier of the Province of Saskatchewan, the Honorable Brad Wall, representatives from the Government of Canada, the Canadian Embassy in India and participants in a Canadian Trade Mission. To see the original media release click on: http://www.irdinc.com/investor/pdf/step_0311

The three contracts signed at the reception were:

  1. Reliance Infrastructure has awarded IRDSA the Operations & Maintenance (O&M) of the 180 km long Delhi-Agra National Highway. IRDSA shall be responsible for complete Toll Plaza Operations including Cash Management, Traffic Management, Toll Equipment, Road Safety, Route Operations, Incident Management and Route Patrolling. The award of this contract has further strengthened IRDSA‟s relation with the Reliance Infrastructure Group as this is the third O&M contract awarded by Reliance to IRDSA.
  2. The second contract has been awarded by Reliance Sea Link One Pvt. Ltd. and involves the „Bandra Worli Sea Link‟ Project, one of the most prestigious infrastructure projects in India. This project involves 16 lanes over 1 plaza including two RFID (radio frequency identification) based Electronic Toll Collection (ETC) lanes.
  3. The third contract with IRB (Ideal Road Builders) for 20 lanes of toll on the Tumkur Chitradurga six lane highway providing its toll collection and revenue audit system.

Mr. Terry Bergan, IRD's President and CEO commented, “We are very pleased with these recent awards by Reliance and IRB. These awards demonstrate IRDSA‟s strong market position in the Toll market in India as well as our clients‟ confidence in our Electronic Toll Collection (ETC) system”.

IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems (ITS) industry. IRD is a North American company based in Saskatoon, Saskatchewan Canada with sales and service offices throughout the United States and overseas. Private corporations, transportation agencies and highway authorities around the world use IRD's products and advanced systems to manage and protect their highway infrastructures.

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The Company’s shares trade on the Toronto Stock Exchange under the symbol IRD.

FOR MORE INFORMATION PLEASE CONTACT:
Terry Bergan
President & CEO
Phone: (306) 653-6600
U.S. (303) 355-5998

Francine Senecal-Lepage
Investor Relations
Phone: (306) 653-6603
Fax: (306) 653-1454
Email: irdir@irdinc.com

IRD is listed on the TSX - trading symbol - IRD
www.irdinc.com

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