Avanceon Limited has entered into an agreement with Mazyood Giga DHA Lahore Emerald Ltd.
According to the notification to the PSX, Avanceon will provide the Building Management System(BMS) and Integrated Building Management System(IBMS) including Engineering, Supplies and Services. The said contract is worth Rs. 142.5 million and the timeline for the delivery will be 8-10 months.
Avanceon will start its work at the Gold Crest Mall, which is situated in Sector D of DHA Phase 4 Lahore. Gold Crest Mall will be the first project for Avanceon’s Building Technologies division which was launched in 2018.
According to the company, The Building Technologies’ division has an impressive pipeline of projects throughout Pakistan. The Avanceon BT division partners with Siemens Building Technologies on all of its projects and the company is expecting exponential growth in metropolitan cities all over Pakistan over the next two years.
Furthermore, the company has also entered into an agreement with Attock Petroleum Limited for the execution of electrical works at Daulatpur Terminal. The contract is worth of Rs. 73.07 million. The scope of this agreement shall include supply, installation, testing and commissioning of Electrical works.
The notification further reported that it has entered into a contract worth approximately Rs. 15 million with Mari Petroleum Company Limited for the provision of engineering, procurement, supply and commissioning of SCADA and Telemetry System (on turnkey basis) for TIPU wells at Daharki Fields.
Lastly, an agreement was also signed with Shell Pakistan Limited worth Rs. 49.04 million for the upgradation of Shell DP and NDP terminal in Kemari with new state of the art LT Panels with complete supply, installation, testing and commissioning services. Furthermore, both the companies signed a second agreement worth Rs. 51.09 million for the supply of automation equipment for MA Jinnah fuel station, Race Course fuel station and Noor M9 fuel station.
The company also stated that all of these agreements will have a positive impact on the Group’s financials and will help the company to seek out the new opportunity as well.
Avanceon Limited provides engineering excellence, industrial automation, process control and systems integration, and energy management solutions and support services in Pakistan, the United Arab Emirates, Qatar, the Kingdom of Saudi Arabia, and the United States.
The GIGA Group compromises of several companies independently and jointly owned by Giga Family in Pakistan and Middle East. It has a multifarious set of business activities in textile, gold, refining, bullion trade and real estate development and construction industry.
More Investment More Opportunity