Avanceon Limited enters in contracts worth PKR 110.7 million with MPCL, OGDCL and others

According to a bourse filing, Avanceon Limited has entered in contracts worth PKR 110.7 million with Atlas Power Limited, Amanat Hussain & Co., Mari Petroleum Limited (MARI) and Oil & Gas Development Company Limited to carry out various projects.

Avanceon Limited (AVN) has entered in a contract worth PKR 45 million for a period of six months with Atlas Power Limited for “supply of Control System, Installation of VFD’s and PLC Panels and commissioning services at Atlas Power”. The project details include work on “Radiator Energy Fan Optimization at Atlas Power Limited”.

Furthermore, Avanceon Limited has also entered in a contract with Amanat Hussain & Co. to supply Honeywell Gas Detectors and Emerson ASCO Solenoid Valves for Airport Security Forces (ASF) Buildings at New Islamabad Airport Project at Thalian Gate ASF Fateh Jang.

Avanceon Limited is a wholly owned subsidiary of Avanceon F.Z.E. Avanceon is a provider of automation, control systems integration, proprietary energy management solutions and support services. 

Avanceon F.Z.E. has entered in contracts with MPCL and OGDCL. The company has entered in a contract with Mari Petroleum to “complete supply and engineering of SCADA system for wellheads, ZS1, ZS2 and ZS3 which includes Hydraulic Panel, Field Instrumentation, Fire and Gas Detection System, Control System of wellheads along with complete installation and commissioning work” at Zarghun Gas Field in Quetta. The contract is worth PKR 20 million with a time period of 5 – 6 months.

Furthermore, the company has also entered in a contract with OGDCL for 6 months to “supply spares of control panel for KPD-TAY Plant” with a total contract value of PKR 15.7 million.

Avanceon (AVN) share price at 11:30 was at 59.83 (4.98) down 4.98 percent.