Singapore's ComfortDelGro bags $1.09 bln Australian bus contracts (updated)

ComfortDelGro

07/11/2022 24:17

(Adds details on contracts, operations and comment)
       Nov 7 (Reuters) - Singapore's taxi operator
ComfortDelGro Corp  CMDG.SI  said on Monday its unit CDC in the
Australian state of New South Wales had won three metropolitan
bus contracts totalling A$1.7 billion ($1.09 billion) to operate
a public transport network.
    The contract covers a few regions across Sydney and NSW
spreading a network of public bus operations that are home to
more than 700 buses, which ferry around 18 million passengers
every year, ComfortDelGro said. 
    "With a total investment of S$1.17 billion ($830.79 million)
to date, Australia is now the group's largest overseas
investment destination with a fleet of over 2600 buses," the
company said in a statement. 
    ComfortDelGro said its Australian operations clocked a
revenue of S$701 million for the year ended Dec. 31, 2021. 
     ($1 = 1.5526 Australian dollars)
     ($1 = 1.4083 Singapore dollars)
 (Reporting by Roushni Nair in Bengaluru; Editing by Sherry
Jacob-Phillips)
 ((Roushni.Nair@thomsonreuters.com;))