Israeli transit bus Egged has won a major bid for the operation of public transportation in Amsterdam, Holland, through its Egged Europe subsidiary.

The eight-year bid, which includes a two-year optional extension, is said to be worth some $700 million.

An official announcement on the agreement was made in a press conference in the Dutch capital in the presence of the chairman of the local transportation authority, Amsterdam’s deputy mayor and Egged Chairman Gideon Mizrahi.

Starting in December, Egged will operate suburban bus lines connecting the cities of Purmerend, Hoorn, Volendam, Eda and Wormerveer to central Amsterdam. The metropolitan line system will include some 250 new buses.

Egged Europe operates some 1,400 buses in Poland, including exclusive franchises in Warsaw, Krakow and Bydgoszcz.

(Source: Ynet)