Parkd Ltd (ASX:PKD) has signed a $90,000 contract for the delivery of technical services with a Western Sydney local council to secure Federal funding for the development of three multi-level car parks.
The Federal funding is part of the government’s budgeted plan to spend $650 million towards the National Car Parking Project.
This involves the construction of some 50 commuter car parks and create 15,000 new car parking spaces as a means to alleviate congestion in the Central Business Districts of Australia’s major capital cities.
These transport hubs are within local government jurisdictions and PARKD has been in talks with a number of local councils to facilitate access to the Federal funds and build the car parks, both permanent and relocatable, on their respective council land.
Parkd CEO Len Troncone said: “The National Commuter Parking Project represents an excellent opportunity for PARKD to showcase its expertise as Australia’s only specialist designer and constructor of car parks.
“The opportunity to be involved in the first 3 multi-level car parks earmarked for construction is encouraging and PARKD remains in the forefront to participate on these and other projects in the coming months.”
PARKD has developed specific solutions to offer both permanent and temporary commuter car parks that are sustainable and have a design life of up to 100 years as required by some state government authorities.
The company is progressing discussions with several other local councils and state authorities to offer similar technical services and construction solutions which, combined with the Federal Government’s National Commuter Parking Project, could total 75 multi-level car parks equating to over $1.2 billion in infrastructure spending over the next few years.