Hollysys Automation Technologies has declared that Concord , its wholly owned subsidiary, has signed a deal with Sendan International to offer control, electrical and instrumentation installation works for Power Plant in Rabigh, Saudi Arabia. The contract is worth about USD $16.90 million. The project is anticipated to be completed by mid-half of 2013.
Saudi Electricity Co. has invested $3.4 billion in the Rabigh power plant to address the rising power demand in Saudi Arabia. With the help of gas turbines, the Rabigh-6 plant will be powered by crude and natural gas. The project is expected to be ready by 2014.
Hollysys’ Chairman and Chief Executive Officer, Dr. Changli Wang stated that the company is glad to win this major contract and happy that Concord is securing new business for the company. Concord integration into Hollysys has been fruitful in both business and new products developments. Wang added that he is positive that the combination of Hollysys’ proprietary technology and products and Concord's industry expertise and customer base will result in a wider market space of industrial and rail automation sectors in the Middle East and Southeast Asia to generate value for the company’s shareholders.
Hollysys Automation Technologies, established in 1993, is a China-based company that specializes in control and automation technologies and applications. The company allows industry and utility customers to enhance efficiency, reliability and operating safety and has countrywide presence in more than 40 cities. Its offices and subsidiaries are located in India, Dubai, Singapore and Malaysia. The company’s technologies are used in its industrial automation solution suite including Programmable Logic Controller (PLC), Distributed Control System (DCS), HAMS, RMIS, OTS, etc.