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Octopus Signed Five Year Contract With Cement Manufacturer For Entering Into Construction Sector: PSX

admin-augaf by admin-augaf
January 17, 2022
in Business, Finance
Reading Time: 2 mins read
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Octupus IPO General Public Portion Oversubscribed By 4.39x: PSX

Octupus IPO General Public Portion Oversubscribed By 4.39x: PSX

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Lahore January 17 2022: Octopus Digital Limited has secured a high value five-year IAAS (Infrastructure as a Service) contract on BTMI basis (Build, Train to Operate, Maintain & Improve).

The Digitalization Subscription will see Octopus Digital Limited provide supply and maintenance services to a major cement manufacturer in Pakistan. The Contract Valued at 120 million PKR Marks Octopus Digital’s Entry into the Thriving Construction Sector.

The five-year contract marks Octopus Digital’s entry into the construction sector. Cement, a crucial
ingredient of the Construction Sector, is experiencing a dramatic boom in Pakistan. The national local cement consumption is expected to have a CAGR of 7% till the year 2025 taking the local count to 65 million tons per annum. One challenge for cement manufacturers during this period of growth would
be to control costs due to rapidly increasing coal prices.


Octopus Digital will play a critical role in helping the cement plant operations become efficient and cost
effective through its state-of-the-art decision support system (DSS). Octopus Digital will deploy its DSS with Real Time Dashboards and Cloud Integration and Reporting capability to deliver key insights on complex data to assist every user throughout the organization achieve operational optimization and modernization.

The duration of the service agreement will be from November 2021 till November 2026.

Octopus Digital Limited has extensive experience and expertise in Maintenance and Support services. The company partners with leading global OEMs to ensure best in class industry solutions for her
customers.


Source: PSX

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Tags: ITOCTOPUS
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