On Track Innovations (OTI) subsidiary PARX has signed a 20-year contract to support the management of parking operations in the city of Elbasan, Albania.

As per the contract, PARX will work on the project with its Albanian partner TIS.

The latest deal consists of general and financial management services, parking fees collection, enforcement, an advanced permit system and customer support.

"We plan to expand this operation to additional cities in Albania in the near future."

The contract also includes an initial total of 4,000-managed parking spaces, which is expected to increase over the term of the project.

PARX CEO Ofer Tziperman said that the company’s work in Albania is part of its continuing strategy of entering long-term public and private partnership contracts for municipal parking management.

"PARX’s unique EasyPark™ parking technology allows us to provide municipalities with an unequal value proposition in a market, which we expect to exhibit spectacular growth in the very near future," Tziperman said.

Introduced 15 years ago, EasyPark is implemented in more than 45 cities in Israel and has helped to collect over $150m in parking fees.

"The unique combination of our in-vehicle parking meter, together with our new complementary EasyPark mobile solution, will allow us to provide the best service to both municipalities and drivers in Albania," Tziperman added.

TIS general manager Bashkim Shall said that the company is looking forward to the Elabasan project and its collaboration with PARX.

"We plan to expand this operation to additional cities in Albania in the near future," Shall said.