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July 17, 2016

Concord wins Doha Metro electrical installation services contract

Hollysys Automation Technologies' subsidiary Concord Corporation has signed a QAR227m ($62.3m) contract with Mitsubishi Heavy Industries (MHI) to provide electrical installation services for Phase I of Doha Metro.

Hollysys Automation Technologies' subsidiary Concord Corporation has signed a QAR227m ($62.3m) contract with Mitsubishi Heavy Industries (MHI) to provide electrical installation services for Phase I of Doha Metro.

The contract covers engineering, supply, installation, testing, and commissioning for part of a power distribution system package being supplied by MHI.

Construction will begin in October this year, with plans to begin system trial tests in Q4, 2018.

Hollysys' management said: "We are glad Concord won this contract. This is thanks to its proven track records and extensive working business relationship with MHI, which secured the opportunity in participating the construction of the Qatar Metro project.

"Construction will begin in October this year, with plans to begin system trial tests in Q4, 2018."

“Winning this contract has set an important milestone for the company's future expansion plan in the Middle East market. Hollysys will continue to accumulate a brand name globally, expanding the overseas market and creating value for shareholders."

Besides MHI, the consortium comprises Mitsubishi Corporation, Hitachi, Kinki Sharyo, and Thales.

Construction on the Doha Metro will be carried out in two phases. Phase I includes the Red, Gold, Blue, and Green lines and Concord is undertaking works for lines Gold, Blue, and Green.

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