September 01, 2021 (MLN): Avanceon FZE, a wholly-owned subsidiary of Avanceon Limited established in the Middle East, has been awarded a nine-year extension on its contract to maintain and support operations of Dubai Metro.

The After-Market Support (AMS) arm of Octopus Digital Limited will execute this project. AMS has been maintaining operations for Dubai Metro since 2014.

In 2019, Dubai Metro renewed its maintenance contract with Avanceon FZE for two years which concluded in 2021.

The new maintenance contract will see Octopus Digital’s AMS maintain end-to-end Integrated control systems installed base across the Green Line as well as the Red Line for Dubai Metro from September 2021 through September 2030.

According to the notice issued to Exchange, the total value of the project is USD3.6 million. The Scope of Work on this project entails the following:

• Monitoring of Environmental Control Systems to remain functional & continuously operate within planned operational & performance KPIs
• Periodic Inspection & Maintenance of Tunnel Ventilation Systems/Equipment to address OEM prescribed maintenance needs to ensure maximum availability of systems for reliable & predictable tunnel operations
• In-time identification of malfunctions and corrective rectification to ensure all operational performance KPIs are consistently achieved.

Octopus Digital will perform all services in accordance with the local regulatory and QHSE authorities’ requirements.

All Maintenance KPIs, Maintenance Performance Regime, Maintenance Works Instructions and Maintenance Procedure will be complied with through the duration of the contract. Octopus Digital will be partnering with World Class OEMS for the execution of this project.

Octopus Digital’s scope of maintenance services includes iECS (Integrated Environmental Control Systems) and TVCS (Tunnel Ventilation Control System) of 11 underground stations and annexures, monitoring/inspection/maintenance of integrated environmental control system and its related field devices at 49 metro station buildings, 03 rail depots, 03 car parks, 02 independent traction power substations (ITPS), and 03 Main power substations (MPS). Octopus Digital will also provide 24×7 emergency operational support.

Octopus Digital Limited is poised to be listed on the Pakistan Stock Exchange with its book-building portion on September 09 & 10 and retail portion confirmed on September 16 & 17, 2021.

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