Business
ARTC Contract Extension
ARTC Contract Extension.
About this update from Cordel Group Plc
[{"type":"text","content":"\n\n10 July 2023\nCordel Group PLC\n(\"Cordel\" or the \"Company\" or the \"Group\")\n \nARTC Contract Extension\nCordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce an extension to our existing clearances contract with the Australian Rail Track Corporation (\"ARTC\"), taking the term of the engagement to 31 August 2024.\n \nThe original contract was signed on 6 January 2020 and then extended on 26 November 2020, for the period to 30 June 2023.\n \nThis latest extension has been made possible by the commitment of both ARTC and Cordel to rigorously validate the clearance capabilities of the Wave OEM scanning equipment and the automated processing techniques deployed by Cordel. The validation process, conducted over the past 12 months, has proved that the technology provides reliable and effective management of clearances on the ARTC network in accordance with the ARTC Section 7 Code of Practice and has thus been approved for use in clearance assessments.\n \nAs part of the approval, Cordel has deployed additional services such as point cloud classification, advanced structure gauge assessments, track spacing and centreline reports, with a continuous commitment to extend the capabilities of automated unattended capture systems using AI and machine learning at scale.\n \nCordel CEO John Davis said, \"We are delighted to be continuing our important engagement with ARTC, for whom we have scanned and analysed over 150,000 Kms of track distance. Moreover, the continuation of the contract allows ARTC to conduct assessments without the need to deploy inspection teams into the rail corridor. This is cost effective, efficient and reduces personnel risk whilst completing clearance assessments.\"\n \nEnquiries:\n \n\n\n\nCordel Group PLC\n\n\nc/o Zeus\n\n\n\n\nIan Buddery, Chairman\nJohn Davis, Chief Executive Officer\n\n\n\n\n\n\n\nZeus Capital Limited Broker\n\n\n+44 (0)20 3829 5000\n\n\n\n\nSimon Johnson / Alexandra Campbell-Harris\nStrand Hanson Limited Nominated Adviser\nRichard Johnson / James Bellman\n\n\n \n \n+44 (0)20 7409 3494\n \n\n\n\n \n \n \n \nAbout Cordel\nCordel produces specialist hardware and software for capturing, analysing and reporting on large datasets within the transport...