Lotte Innovate is accelerating its entry into Malaysia's multi-lane free-flow toll collection (MLFF) market in partnership with the Qatari Investment Group (PCG). The company plans to combine its domestic traffic system technology with the funding and business development capabilities of its overseas partner to expand opportunities in the global transportation infrastructure market, including Malaysia.
On October 21, Lotte Innovate announced that it had signed a strategic partnership agreement with PCG to collaborate on overseas MLFF projects. The two companies agreed to prioritize discussions on the introduction and utilization of relevant technologies and the pursuit of new business opportunities.
Building on this partnership, Lotte Innovate plans to establish a collaborative relationship with PCG, starting from initial project assessments and technology applications to business development and commercialization. The goal is to continuously identify joint business opportunities in the global transportation infrastructure market from a long-term perspective, beyond individual project collaborations.
PCG is a funding, investment, and business development group based in Doha, Qatar. It leads consortium formation and project execution in global infrastructure projects and collaborates with global technology partners in various fields, including smart cities and smart transportation.
Lotte Innovate is moving quickly to enter the MLFF market in Malaysia, where a project is underway to enhance the toll collection system across 34 highways, covering a total length of 2,035 kilometers and approximately 211 toll plazas. The MLFF system allows vehicles to pay tolls without stopping at toll booths or moving to designated lanes. This requires the establishment of an integrated system capable of vehicle recognition, toll information processing, fee settlement, and operational management.
Lotte Innovate anticipates that its collaboration with PCG will broaden its scope for global business cooperation, leveraging PCG's global network and funding capabilities.
PCG is focusing on key regions for business development, including Southeast Asia, Latin America, Central Asia (CIS), and North Africa. The company expects to jointly explore MLFF business opportunities by considering the demand for transportation infrastructure and market conditions in each region.
Lotte Innovate has experience in the domestic smart tolling business, having established 171 single-lane and 31 multi-lane systems, along with 909 vehicle image capture devices. At the recent ITS World Congress in Gangneung, the company showcased technology that collects tolls by recognizing vehicle license plates using AI, without the need for separate high-pass devices. It also demonstrated its capability to recognize license plates from vehicles in South Korea, Malaysia, and Japan, highlighting its technological prowess for entering overseas markets.
A representative from Lotte Innovate stated, “Based on a close cooperation system between the two companies, we will solidify business opportunities in key overseas markets, including Malaysia, and connect these to tangible revenue growth, thereby enhancing our competitiveness in the global mobility business.”
* This article has been translated by AI.
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