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Unitec International Controls Corp -
Unitec makes first shipment to Saudi Arabia
Unitec International Controls Corp UIC
Shares issued 21,209,129 1999-09-09 close $0.12
Monday Sep 13 1999
Mr. John Smyth reports
Further to news in Stockwatch March 8, 1999, Unitec has shipped the first portion of the contract award for a water SCADA system in the Kingdom of Saudi Arabia. This portion, which represents about 50 per cent of the total contract, is valued at approximately $400,000. The balance of the order is expected to ship in the latter part of 1999 or early next year. The SCADA system will monitor and control nine deep (450-metre) water wells, a reservoir, as well as a power generating plant via 180 kilometres of multiconductor underground telecommunications cable.
This is the company's first sale to Saudi Arabia. Saudi Arabia is the world's largest producer of oil at 8.5 million gallons a day. It has 25 of the world's largest desalination plants, with 15 more under construction and produces 17,500 megawatt of electricity representing a considerable potential for the company's SCADA products.
Previously, the company delivered two water SCADA systems to the United Arab Emirates and has active proposals in those and other Middle East countries, with an estimated value in the high nine figures. Unitec commenced marketing initiatives in Oman, Kuwait, Qatar, Jordan and Turkey to locate prospective agents to accelerate introduction of its products to those areas.
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