Trakker Middle East LLC, an associated company of TPL Trakker Limited (TPLT), has secured its first African project by signing a contract with SOCIETE “SEBIT” SARL for the provision of IoT-based fuel monitoring solutions in Chad, marking a key step in expanding its footprint beyond the Middle East.
TPLT disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
“We are pleased to announce that Trakker Middle East LLC, an associated company of TPL Trakker Limited, has entered into a contract with SOCIETE ‘SEBIT’ SARL for the provision of IoT-based fuel monitoring solutions in the Republic of Chad, Africa,” read the notice.
TPLT said that the development represents the first project of its kind undertaken by Trakker Middle East LLC in the African region and marks a significant step in extending its geographic footprint beyond the Middle East.
“The development also creates opportunities for expansion in other African markets where the company foresees promising growth potential for IoT-based telematics and fuel monitoring solutions,” it added.
Last year, TPLT announced a ‘strategic partnership’ with Gargash Group, a UAE-based conglomerate, for a fresh equity injection in its associated company Trakker Middle East Limited (TME).
TPLT was incorporated in Pakistan in December 2016 as a private limited company. Previously, it was known as TPL Vehicle Tracking (Private) Limited. The company is a subsidiary of TPL Corporation Limited, while TPL Holdings (Private) Limited is the parent company of TPLT.
The company is engaged in the installation and sales of vehicle tracking devices along with fleet management services.
It also provides Internet of things (IoT) solutions to a wide range of industries. Some of the services offered by TPLT includes cold chain monitoring, fuel monitoring, Genset monitoring, Driver Behavior monitoring etc.
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