AVN subsidiary Octopus Digial awarded 2-years extension on Dubai Metro Contract

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In a latest notification to the Pakistan Stock Exchange (PSX), Avanceon Limited (PSX:AVN) informs that the Octopus Digital (subsidiary of AVN) has been granted a two year extension to maintain and operate Dubai Metro.

According to Avanceon Limited, the contract is worth approximately 2 Mn AED and will be valid through 2021. The scope of maintenance services includes the iECS (Integrated Environmental Control Systems) and its related field devices installed at all 49 station buildings, 3 car parks & 3 rail depots as well as the Tunnel Controls Package. The After-Market Support (AMS) arm of Octopus Digital has been maintaining operations for Dubai Metro since 2013.