Transport for NSW extends asset management contract

Transport for NSW is spending $3.4 million to extend a contract for maintenance and management technology with Victorian company Asset Vision.

Asset Vision’s previous work with TfNSW ran from March to August 2021, and was worth just over $416,000. It was then amended to run to January 2024, and expanded to over $2.6 million.

ASX-listed Asset Vision announced the latest contract extension, for two years with an option for another two years, today [pdf].

Asset Vision said the extension “demonstrates the trust TfNSW places in our platform”, adding that under the extension, “Asset Vision will continue to provide and enhance our core asset management and maintenance management platform”.

The company’s offerings will also be used to support TfNSW’s forward works program, across “both state and local government stakeholders”, the announcement said.

“Our platform provides TfNSW and its contractors a standardised means of capturing and reporting on inspections, defects, and capital work improvement programs across the road corridor network," Asst Vision co-founder and co-CEO Damian Smith said.