Besides Australia, TransCore’s express lane tolling operations on an 18-mile stretch of Interstate 80 in Solano County, California went live on Dec 17. This is the fourth express lane corridor TransCore has delivered for the Bay Area Infrastructure Financing Authority since 2017.
RHB Bank Singapore analyst Shekhar Jaiswal has maintained his “buy” call and $9.40 target price for ST Engineering (STE). According to Jaiswal, ST Engineering continues to deliver “tangible wins” in areas such as smart mobility and urban solutions.
Earlier, on Dec 2, STE’s wholly-owned subsidiary TransCore was awarded its first Australian tolling contract from Transport for NSW, the transport agency for New South Wales. The contract involves handling the tolls for Sydney’s Western Harbour Tunnel. The 6.5 km motorway project is Australia's first tagless and video-only tolling system. It is set to be completed in 2027 and will start operating in 2028. STE acquired TransCore in March 2022.
