Web-based water meter reader developer Arad Technologies Ltd. and French water meter maker Actaris Metering Systems jointly have won the first order to provide 150,000 water meters to the Municipal Corporation of Greater Mumbai (MCGM) to install water meters in the city. The Israel Export and International Cooperation Institute says that this is the half of a $32 million order for 300,000 water meters. Arad and Actaris will split the revenue equally.
Arad Technologies has developed a web-based, wireless, automatic meter reading solution for municipal water networks. The Yokne'am-based company has 56 employees.
The Export Institute said that the total project amounts to $128 million to install 1.2 million water meters in Mumbai. The tenders for the rest of the project have not been awarded. Arad and Actaris will reportedly win the follow-on tenders, because of logistical difficulties in coordinating different meter systems and technologies in a single municipal network.
Arad participated in the tender through the Export Institute and the Ministry of Industry, Trade and Labor's Foreign Trade Administration and Israel NewTech program for promoting the water technology and renewable energy industries.
Arad Technologies president Dan Winter said, "Winning this tender is a breakthrough for us, which opens a new market that is full of opportunities. Arad is in the final stages of two other tenders in India, and in view of the heavy demand, we are considering moving some production there."
Arad Technologies is a subsidiary of Arad Ltd. (TASE:ARD).
Published by Globes [online], Israel business news - www.globes-online.com - on January 12, 2010
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