Avanceon FZE, a wholly owned subsidiary of the Avanceon Limited (PSX: AVN), has secured a multi-million-dollar project to deliver state of the art energy solutions and services.
In a notice to the Pakistan Stock Exchange (PSX), Avanceon said the acquisition of the project underscores its commitment to delivering world-class automation and control solutions to the oil and gas sector in the Middle East region and beyond.
This project gives a pathway for positive impact on the group’s business and value for its shareholders, the notice added.
For this project, with an approximate cost of $16.5 million, Avanceon will be responsible for a range of cutting-edge instrumentation and control systems designed to enhance the safety, reliability, efficiency, and operational needs of the energy giant. The project will extend for three years from August 2024 till August 2027.
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