International Road Dynamics Inc.

International Road Dynamics Inc.

July 07, 2008 12:07 ET

IRD Awarded CDN$ 2.5 Million Contract in India

SASKATOON, SASKATCHEWAN--(Marketwire - July 7, 2008) - International Road Dynamics Inc. (IRD) (TSX:IRD) announced today that its wholly-owned subsidiary, International Road Dynamics South Asia (IRDSA), has been awarded a contract by Reliance Energy, a leading infrastructure development company, to supply, install and commission 66 toll lanes using IRD's proprietary iToll Collection System (iToll) as well as 9 Slow Speed Weigh-in-Motion (SSWIM) systems in India. The systems are to be implemented across the country at different locations on India's national highways system. The contract value is approximately at CDN $ 2.5 Million.

IRD's iToll is a toll audit system used at toll lanes to assist with the auditing of the collection of toll revenues. The Toll Collection System will feature manual as well as automated payments using smart cards and barcode tickets. It utilizes the IRD iToll video incident detection system and also provides toll center control equipment to monitor and control all toll operations. The systems are expected to be installed and operational in the next 6-9 months. The SSWIM systems are utilized for vehicle weight data collection.

Mr. Terry Bergan, IRD's President and CEO commented, "With the award of this contract IRD has become the leading Toll System and Traffic Management Solution provider in India. Once completed, we will have an installed base of nearly 500 Toll lanes, the largest in the country. We are very proud to have been awarded this new contract, and look forward to our continuing participation in ongoing highway infrastructure development projects in India."

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.

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)