Avanceon secures $6.3mn in fuel retail orders from Pakistan’s leading OMCs
Avanceon Limited (AVN), a Pakistani technology company headquartered in Lahore, announced on Monday that it had successfully secured $6.3 million worth of orders for its fuel retail business from some of the largest oil marketing companies in Pakistan. The tech company disclosed in a notice to the Pakistan Stock Exchange today. “These projects reinforce Avanceon’s position as a trusted partner in…
Pakistani technology firm Avanceon Limited has secured $6.3 million in orders for its fuel retail business from top oil marketing companies in the country, according to a notice filed with the Pakistan Stock Exchange. The company, headquartered in Lahore, highlighted that these contracts underscore its role as a reliable partner for automation, Automatic Tank Gauging (ATG) systems, and digitalization in the fuel retail and downstream energy sectors.
The $6.3 million investment is expected to bolster Avanceon's growth trajectory within the 10,000+ station market, offering opportunities for expansion through new deployments, system upgrades, regulatory adherence, remote monitoring, and digital fuel management services. With ongoing automation penetration still pending across the market, Avanceon's strong platform for sustained growth is fueled by recurring revenue streams derived from preventive and corrective maintenance, software, support, and system upgrades.
Established in 2003 as a private limited company and converted to a public entity in 2008, Avanceon Limited focuses on trading automation and control equipment while offering related technical services.
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