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Otis Chosen to Help Connect Singapore on Cross Island Line Phase 1 and Punggol Extension

1. Otis awarded contract for Singapore's Cross Island MRT Line project. 2. Company to deliver 336 escalators and 186 Gen3 elevators. 3. Rail line connects key regions for enhanced public transport accessibility. 4. Otis emphasizes innovative mobility solutions and smart technology in services. 5. Continuous MRT expansion indicates long-term growth potential for Otis.

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Why Bullish?

The contract signifies significant revenue potential, enhancing Otis's market position. Previous similar contracts have historically led to stock positive movement.

How important is it?

The contract's size and scope reflect significant business opportunities, which could enhance investor confidence and stock performance.

Why Long Term?

This project positions Otis for consistent revenue streams through ongoing services. Historical trends show infrastructure projects contribute to sustained growth over years.

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, /PRNewswire/ -- Otis (NYSE: OTIS), the world's leading elevator and escalator manufacturing, installation and service company, has been selected by the Land Transport Authority (LTA) to help create a seamless and user-friendly transport experience on the Singapore Mass Rail Transport (MRT)'s new Cross Island Line.Otis will provide 336 heavy-duty and public escalators and moving walkways, together with 186 Gen3™ elevators. Otis escalators at City Hall MRT Station. As the longest fully underground MRT line in Singapore, the Cross Island Line will connect major hubs including the Jurong Lake District, Punggol Digital District and Changi regions. The MRT system is designed to be the backbone of Singapore's public transport network, offering a fast, convenient, and reliable way for people to travel around the island. It expands access across Singapore, including residential areas, business hubs, and recreational spaces. "We are honored to be awarded this project and to contribute to Singapore's infrastructure growth by providing our best-in-class vertical mobility solutions, supporting Singapore's continuous urban development and the LTA's plans to enhance connectivity, convenience, and sustainability within Singapore's land transport network," said Nicolas Lopez, Managing Director of Otis Southeast Asia. "With extensive experience in infrastructure projects, Otis employs innovative mobility solutions to seamlessly connect people and communities, helping everyone navigate with ease and contribute to the continuous growth and prosperity of the area."What Otis systems will be used in this Project?Safe, reliable and durable, Otis' heavy-duty and public escalator is designed to meet the demands of high-traffic environments. It comes with passenger-sensing standby mode, dual speed feature and high-performance efficient motor.The Gen3 connected elevator platform combines the proven technology of Otis' best-selling Gen2® proven design and flat-belt technology with the Otis ONE™ IoT digital platform. By collecting and analyzing data from the elevators' smart sensors, Otis ONE delivers real-time performance information, proactive communication and predictive insights. The Otis ONE IoT digital platform enables service professionals to be proactive, identifying potential problems and addressing them, often remotely, before they cause a service interruption - contributing to more reliable operations, less downtime and smoother journeys for passengers. What other rail projects has Otis supported in Singapore? The LTA is continuously expanding and upgrading the MRT network, with plans to improve accessibility, capacity, and overall system reliability.In addition to the newly awarded contracts, Otis has installed and maintained elevators and escalators across several MRT lines including North-South Line, East-West Line, North-East Line, Downtown Line, Tuas West Extension and Thomson-East Coast Line Stages 1 to 3.About OtisOtis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.Media Contact: Richard Howat, [email protected]SOURCE Otis Worldwide Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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