|08:32 EDT||OTIV||PARX Ltd signs 20-year contract with Elbasan, Albania|
PARX Ltd., a subsidiary of On Track Innovations Ltd., has signed a 20-year contract to help manage the parking operations for Elbasan, a city in central Albania. PARX will work with its Albanian partner, TIS Ltd., on the project, which is that nationís first paid parking solution. The agreement includes general and financial management services, parking fees collection, enforcement, an advanced permit system and customer support. At its inception, the contract includes approximately 4,000 managed parking spaces, a number that is expected to increase during the term of the project.