16th Sep 2015 11:32
LONDON (Alliance News) - National Express Group PLC on Wednesday said it has been named preferred bidder on a contract to operate buses in Porto on Portugal, to be handled by its ALSA Spanish unit.
The FTSE 250-listed transport group said the ten-year deal will generate revenue of around EUR500.0 million over the life of the contract. It will carry 75 million passengers per year on a fleet of around 420 buses.
National Express said it will now hold talks with the relevant authorities to conclude the contract, which is expected to start in the first quarter of 2016.
"National Express is delighted to have been named preferred bidder for the Porto bus contract. This success is further evidence of our strong international credentials opening up new market opportunities," said Chief Executive Dean Finch.
Shares in National Express were up 1.8% to 293.5 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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