Avanceon signs contracts worth Rs. 101 million with infrastructure and energy companies in KSA, Qatar and Pakistan

Avanceon Pakistan Limited (AVN) today announced that “Avanceon Limited and its wholly owned subsidiary Avanceon F.Z.E have recently entered into a firm contract with A.A. Turki Company, Polaris MEP and Shell Pakistan Limited.”

The total cost of the three projects is at Rs. 101.1 million with a contract worth Rs. 54 at South Dharhan Water Project worth Rs. 54 million in Saudi Arabia (in agreement with Avanceon F.Z.E.), a project worth Rs. 30.4 million with Polaris Trading and Contracting in Qatar and to install Lube oil bending plant project worth Rs. 16.7 million at Karachi with delivery and timeline period of 4 – 6 months.”

A.A. Turki Company, Shall Pakistan have already co-operated on projects with Avanceon Pakistan and Avanceon F.Z.E. However, the company’s contract with Polaris Trading marks the first occasion where the two companies have entered an agreement.

Scope of work of Avanceon F.Z.E’s Rs. 54 million project at South Dharhan Water Project includes “PLC based Control System for Drinking Water Pumping Station, Treated Effluent Pumping Station, Waste Water Pumping Station and SDHO Control Centre including all the site services”

On the other hand, the scope of work of Avanceon Pakistan Limited’s Rs. 30.4 million project at New Orbital Highway in Qatar includes installation of “highly sophisticated control system for SCADA system for New Orbital Highway & truck route compromising of SCADA hardware, related software and PLC system.”

Similarly, the scope of work at Shell Pakistan Limited’s Rs. 6 million project at Karachi includes “supply, installation, integration with DCS, Commissioning, Training and Handover of 5 Mass flow Meters with accessories listed in Tender Document.”

 The company expects the projects to have a positive financial impact on the Avanceon financials and improve the existing opportunities and provide a getaway for projects for Avanceon and its subsidiaries.