Mikoh signs Thai EVR contract
- 17 March, 2010 15:44
Security system solutions provider Mikoh has signed a five-year contract to build an electronic vehicle registration (EVR) system in Thailand.
The deal, which is expected to be worth over US$25 million ($27.2 million) within the first three years, also has an optional five-year extension.
Mikoh is partnering with Thai companies Konlakorn – the holder of the government contract – and Somapa IT Company for the project.
The system is expected to go live in 2H10, and generate initial orders of $1.45 million this financial year.
At first, transition to the EVR system will be voluntary, Mikoh said, but the company expects it to become mandatory in the future.