SeaLink Travel Group’s (ASX:SLK) RiverCity Ferries is the new operator of Brisbane City Council’s iconic CityCat, CityHopper and Cross River Ferry networks after securing SeaLink’s first marine public transport contract since acquiring Australia’s largest privately owned metropolitan bus company, Transit Systems in January.
The contract is for the operation of the Brisbane River ferry services and the maintenance of the vessels and associated infrastructure. SeaLink’s services are planned to commence on 4 November 2020 for a term of up to 15 years and will secure up to 250 local jobs, as well as the operation of 31 vessels and add millions of passengers.
The total contract revenue over the initial ten year term is estimated at approximately $390 million.
Shares in SeaLink Travel Group (ASX:SLK) are trading 1.4 per cent higher at $4.43.