International Road Dynamics Inc.

International Road Dynamics Inc.

September 09, 2009 10:43 ET

IRD Awarded Two Contracts in India Valued at CAD $1.5 Million

SASKATOON, SASKATCHEWAN--(Marketwire - Sept. 9, 2009) - International Road Dynamics Inc. (IRD) (TSX:IRD) announced today that its whollyowned subsidiary, International Road Dynamics South Asia (IRDSA), has been awarded two contracts from leading Indian concessionaires for the design and implementation of integrated tolling and traffic management systems. The first contract, awarded by Madhucon Projects Limited (MPL) is to set up a tolling plaza and provide an integrated traffic management solution in Tamil Nadu in south India. The second, awarded by a consortium led by SREI Infrastructure Finance Ltd (SIFL), is for the implementation of tolling solutions at three connected toll plazas in India's Madhya Pradesh Province. The cumulative value of these two contracts is approximately CAD $1.5 million.

"We are very pleased with the progress IRDSA is making in this rapidly-growing market," commented Terry Bergan, IRD President and CEO, "So far in 2009, we have been awarded approximately $7 million in contracts in South Asia in 2009 and we are looking forward to capturing further business in the region."

"This is the fourth consecutive contract awarded by MPL to IRDSA, a testament to our hard work, costeffective solutions, and ongoing investment in these growing Southeast Asian markets," added Aman Kishore, Managing Director of IRDSA.

IRDSA is a market leader in tolling and traffic management located in New Delhi, India. IRDSA is associated with approximately 800 toll lanes across the country and works with almost 80% of Indian concessionaires. IRDSA is the only ITS company with a country wide (PAN-India) presence and strong operational hubs in the majority of states across the country.

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.

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

IRD is listed on the TSX trading symbol.

Contact Information

  • International Road Dynamics Inc.
    Terry Bergan
    President & CEO
    (306) 653-6600 or U.S. (303) 355-5998
    International Road Dynamics Inc.
    Francine Senecal-Lepage
    Investor Relations
    (306) 653-6603
    (306) 653-6609 (FAX)