Avanceon Limited announced on Tuesday that it has been awarded a $1.7 million contract from a major EPC contractor in the Caspian region.
In a notice to Pakistan Stock Exchange (PSX), the company said that this contract marks a significant milestone for the company as it seeks to expand its operations and reach new customers in the region with its newly formed process business solutions division.
In a detailed press release, the company said that it has been awarded the contract from a major EPC contractor in the Caspian region and it will provide a state-of-the-art oil and gas solution to the customer.
The press release said that Kazakhstan has long been working to increase the country’s investment attractiveness by reviewing policies and introducing various benefits for doing business. In 2019, the Kazakh government announced the country’s intent to join the world’s top 30 economies by 2050. Avanceon is confident that its proven track record of delivering high-quality services will help establish itself as a trusted provider of innovative and reliable solutions in the new region.
Commenting on the project, Sadha Baskaran the Regional Head of Sales for Avanceon in the region stated “This reaffirms our commitment to focus on this region and will enable us to set up local facilities in the region in the near future. We are expecting a few major contract awards in the next two months.”
Avanceon Process Business Solutions is a custom build, application-driven solutions division of Avanceon working to deliver state of art solutions for industries. With a geographical footprint in six countries, Avanceon Process Business Solutions partners with reputable local and international partners to provide services to a variety of customer segments that include national oil companies, oilfield service companies, multinational companies, and process plant manufacturers. The division’s tailor-made solutions serve the industrial purpose at its field service hub in Dubai.