Nuri Telecom exports 5 million 970 thousand dollar pre-paid AMIsystem to Iraq
Nuri Telecom (040160) (CEO Cho Song-Man), a company specializing in IoT-based AMI solutions, reported that, following on the footsteps of the Ghanaian and South African contracts, a new contract has brought Nuri Telecom into the Middle-Eastern smart grid market. Nuri Telecom reported that it had signed a contract with LS Industrial Systems Co. Ltd.to provide Iraq with an online prepaid AMI system. The contract is reported to be worth 5 million 970 thousand dollars (6.6 billion won). Prior to signing this contract, both companies signed an MOU concerning monopoly of distribution in the AMI project pursued by the Iraqi government. As such Nuri Telecom is expected to be the sole provider of various AMI systems in the Iraqi AMI project being constructed by LS Industrial Systems. This advanced metering infrastructure installation project was proposed bythe Iraqi Ministry of Energy (MOE), and to that endNuri Telecom is contracted to provide LS Industrial Systems with concentrators (data collection units), AMI platform software, online prepaid software (including power line communications andmobile (GSM/GPRSs) communications models), within the year. Nuri Telecom has revealed that it is to provide a combined wired-wireless communications based AMI system to 110 thousand households across Baghdad and the rest of Iraq through LS Industrial Systems. LS Industrial Systems and Nuri Telecom will cooperate further in future to venture into the Middle Eastern and European AMI markets.