MUNICH (CelebrityAccess) — German entertainment giant CTS Eventim appears to be in line to help collect some traffic tolls in Germany.
According to CTS, The German Federal Ministry of Transport and Digital Infrastructure notified a joint venture between CTS Eventim and Kapsch TrafficCom AG that they intend to award a contract to collect the German infrastructure charge AKA passenger vehicle tolls.
While CTS Eventim has been notified that they are likely to be awarded the contract, German procurement law for the required notification of the losing bidders, the award of the contract is not possible before 30 December 2018, the company said.
The contract, if granted, will extend for a term of twelve years, starting with the first collection of the infrastructure charge and can be extended by three years.
As well, it appears to be a lucrative deal. According to Eventim, the contract will be worth almost $2bn euros, including VAT, for the first 12 years for the joint venture.