Avanceon Limited secures $9mn projects in Pakistan
- Says projects gave a pathway for positive impact on the group’s business
Avanceon Limited (AVN), a Pakistani technology company headquartered in Lahore, announced on Thursday the acquisition of high-value projects worth $9 million in Pakistan’s Energy, Infrastructure, and Hospitality sectors.
The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) today.
“These strategic wins will streamline operations for both customers and deliver tangible improvements to their bottom lines through advanced automation and digitalisation,” AVN shared.
READ MORE: Pakistan’s Avanceon secures $8.8mn contracts across Middle East
As per the notice, the tech company has been awarded a Letter of Intent (LOI) totalling $5.7 million for energy-sector projects.
“The company will deliver terminal automation and transformation initiatives featuring solar-powered control systems, resilient communications, centralised SCADA integration, and IEC 62443-compliant cybersecurity.”
Avanceon has also secured $3.3 million in new projects across the hospitality, retail, and real estate sectors.
“The projects encompass delivery of advanced ELV, BMS, Fire Alarm, Guest Room Management, and IT Network solutions.
“This strategic milestone marks Avanceon’s entry into the hospitality automation market, reinforcing its long-term growth trajectory across smart buildings and digital infrastructure.”
It added that these projects gave a pathway “for positive impact on the group’s business and value for our shareholders”.
Avanceon Limited was incorporated in Pakistan on 26 March 2003 as a private limited company, which was converted to a public company on 31 March 2008 under the repealed Companies Ordinance, 1984.
The principal activity of the company is to trade in automation and control equipment and to provide related technical services.
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