Smart Parking (ASX:SPZ) says it has received a formal letter of intent from the City of Adelaide and will make a further announcement when the contract has been executed.
Under the contract, Smart Parking will also provide maintenance services for five years.
Smart Parking chief executive Paul Gillespie says the the deployment of 2800 Smart Parking sensors will help the city make parking more accessible, as well as giving residents real-time data on available parking spaces through its guidance and payment app.
The smart parking programme is a key initiative of the City of Adelaide’s ongoing Smart City agenda.
“Smart Parking is delighted to be on board to help support the city’s aspirations of reducing congestion, cutting emissions and reinventing the parking experience in Adelaide,” Gillespie said.
Smart Parkling claims over 55,000 vehicle detection sensors installed in 16 countries, and the largest market share of the global intelligent parking sensor and integrated smart parking services market.