GRG International (ASX:GRG) is set to install and operate a complete electronic welfare distribution network in West Bengal, India, following a similar agreement in Madhya Pradesh.
The system will comprise about 4.3 million electronic cards, 5,000 automatic teller machines (ATM) and more than 20,000 point of sale machines, along with a switch and a 6,000 square metre plant.
GRG entered into a memorandum of understanding through subsidiary GRG Banking Solutions Private, with West Bengal Electronics Industry Development Corporation (WEBEL).
The company will assist WEBEL with the development of the systems and supply of the electronic cards and will install and maintain the ATMs and cash machines.
This agreement is similar to one signed recently to install and operate the welfare system in Madhya Pradesh and three other Indian government regions.
GRG is currently focused on strengthening its operations in India and moving into the welfare distribution space.
The deal with WEBEL will help GRG expand its solution offering for card payment and distribution systems in India.