Avanceon Wins $4.2 Million Contracts in the UAE and KSA
According to Avanceon Limited (AVN)'s latest PSX filing, its wholly owned subsidiaries in the UAE (Avanceon FZE) and Zamil (Avanceon Arabia InfoTech. WLL) have won $4.2 million in contracts from major EPC contractors and oil & gas companies in multiple regions.
Karobar
“These contracts give a pathway for a positive impact on the group’s business and value for its shareholders,” the company’s latest filing on the PSX showed.
These projects will establish Avanceon's presence in their regions and start the first project for the newly created joint venture business Avanceon Arabia Information Technology WLL in KSA.
All AVN services will meet local regulatory and QHSE criteria.
World-class OEMs will help AVN complete this project.
Pre-project studies will address safety, quality, and environmental concerns.
AVN's "Road to 100" target is $100m in sales by FY 2025. AVN is on track to meet its 2023 PO generation objective with 5% of the final count coming from the orders above.
AVN values stakeholders and progresses. The group will use these successes to strengthen its market position and meet evolving client needs.
