December 07, 2020 (MLN): Avanceon FZE, a subsidiary of Avanceon Limited, has received three high-value contracts.
As per the details shared by the company, Avanceon FZE has been contracted to provide a comprehensive upgrade solution for the Emergency Shutdown System for one of the largest chemical fertilizer companies in Pakistan. The ESD upgrade is critical for the fertilizer giant as it has the output of more than 6,000 MT a day and employs thousands of personnel at its plants. The total value of the project is approx. Rs 25 million. The project is currently in its initial stages and Avanceon expects to complete it within the agreed timeline.
Avanceon FZE will also provide Endress+Hauser Multi Point Thermocouples to a major Chemical Company in Pakistan. In addition to the supply order, Avanceon has also been contracted to supervise the Installation and Commissioning phase of the project.
Avanceon entered into a partnership agreement with Endress+Hauser to offer high-end industrial field instrumentation& solutions in Pakistan in September 2019. Through this partnership, Avanceon and Endress+Hauser have joined forces to identify new business avenues and develop joint offers in the field of measurement and automation technology for industrial customers in Pakistan.
The contract values at approx. 17 million PKR and currently is in its initial stages.
Another project of approx. PKR25 million will see Avanceon ensure process safety and asset monitoring for one of the largest Oil & Gas Companies in Pakistan. Avanceon will be responsible for the end to end engineering, installation, and implementation of the systems for the customer.
These high-value contracts give a pathway for positive impact on group’s business and value for its shareholders.
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