CCTV security systems provider Innovonics (ASX:INO) has signed a new contract with Connex Melbourne Pty Ltd to upgrade, supply and maintain train CCTV security systems for a portion of the Melbourne train fleet. The contract is valued at about $8 million.

Part of the upgrade is to occur before commencement of the Commonwealth Games in March 2006 and the upgrade will be completed before June 2006.

Innovonics will supply its state of the art transit CCTV security product, DVR-100, for the contract, which is the same product it is currently supplying for projects with the London Underground and Madrid rail networks.

The deal is one of a few significant deals in the US, Europe and Australia that Melbourne-based Innovonics has flagged would be announced in coming weeks.