Ventyx seals $2.8m Saudi Maaden deal
Atlanta (US), August 20, 2012
Ventyx, an ABB company, said it has signed a $2.8 million deal with Ma'aden, the largest mining company in Saudi Arabia, for supply of its leading mining operations software solutions to enhance planning and performance in the firm's gold operations.
Ventyx is a leading supplier of Industrial Enterprise Software for essential industries such as energy, mining and public infrastructure
A diversified mining company, Ma'aden said it will implement Ventyx's intelligent mining solutions across the four existing mines of its Ma'aden Gold and Base Metals subsidiary.
The company also has plans to significantly expand its gold production in the coming years with a number of new projects due to come online.
'Ventyx has a long and successful record of helping complex, large-scale mining operations such as ours to optimize their performance,' remarked Yahia AlShangiti, the president of Ma'aden Gold and Base Metals Company.
'We have been impressed with both the company's deep domain expertise in mining, and the power and flexibility of the software. We anticipate that Ventyx will be a strong partner for us,' he noted.
'Specifically, Ma'aden is deploying two core mining applications from Ventyx's mining software portfolio: Ventyx Production Accounting, which streamlines metal accounting and provides insight into plant performance, and Ventyx MineMarket, which allows mining companies to track ore movements from the mine to the plant, manage stockpiles, track and manage logistics, and manage the complex sales and service contracts related to delivering product to their customers,' he noted.
Commenting on the win, Craig Jones, the Ventyx COO said, 'This is a strategically important agreement with Ma'aden, in which we're partnering with the region's largest mining company to help further their mining operations.'
The Saudi mining sector, he said, was growing and widely expected to become a 'third pillar' of Saudi Arabian industry.
'We also see excellent growth possibilities for Ventyx in this important mining region, and will be looking for opportunities to continue expanding our footprint,' he added.-TradeArabia News Service
More Industry, Logistics & Shipping Stories
- DP World extends maturity date on $1bn loan
- HK apparel group inks tenancy deal with BIO
- DHL wins ‘best employer' award
- Drydocks to host top shipping forum in Dubai
- DHL holds family fun day
- DMCA begins issuing marine driver’s licence
- RSA-Talke to set up storage facility in Dubai
- Sipchem unit secures loan for new project
- Alba names power station director
- Bahrain to set up new building materials firm