ICSA India signs agreement with Oil India

ICSA India Ltd has announced that the Company has signed an agreement with M/s Oil India Ltd (a Govt. of India Enterprise) to market and undertake projects in India and abroad for pipeline Intelligent Cathodic Protection (ICAP)and related projects.

Intelligent Cathodic Protection (ICAP) is an innovative wireless embedded real time system developed by the Company for pipeline applications to monitor, analyze and display in real time the data of Cathodic Protection Parameters for all types of existing, new and cross country pipelines. All relevant parameters are logged in real time and transmitted through Global System for Mobile (GSM)/CDMA/RF/Optical Fiber network to the desired location. The base station computer has in-built data analysis and interpretation routines for real time forecast. It forecasts abnormalities and trends in graphical and numerical form. It is a field compatible system and automatically acquires data from various test lead points, transformer rectifier unit and other stations spread over along the pipeline round the clock and facilitates prompt action during adverse behaviour. It has a built-in powerful integrated wireless data transmission facility to support various modes of transmissions. In addition, it has field compatible sensors for detecting various corrosion parameters. It has built-in security facilities, it eliminates expensive conventional measurements, maintains statutory requirements, forecast pilferage/ tampering/ defects, and improves the life and safety and numerous general purpose features.

Under the terms of the deal, the two companies agreed to incorporate a new company within 12 months of the execution of the signed agreement. The terms and conditions relating to the formation of the company will be finalized soon. Until such time a core group from both the companies will be conducting the day-to-day operations of the Joint Venture.

Source : Equity Bulls

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