SINGAPORE - Addvalue Innovation, a unit of the mainboard-listed Addvalue Technologies, has agreed to work with China International Security Solution Corp (CSS) on a key government initiative, said the firm on Monday (Oct 26).
Addvalue Innovation, which provides communication solutions, entered a memorandum of understanding on Oct 23 with CSS to jointly develop and supply satellite communication-based solutions, products and services for a China-Pakistan projecthe under the "One Belt One Road" initiative.
The China-led initiative includes two roads - the land-based Silk Road Economic Belt which runs west towards Europe through Russia and Central Asian and the oceangoing 21st Century Maritime Silk Road which focuses on reaching Europe through South Asia and Southwest Africa under six economic corridors.
The China-Pakistan Economic Corridor (CPEC) project is a development which aims to connect Gwadar Port in southwestern Pakistan through Pakistan-occupied Kashmir to Kashgar of China's northwestern autonomous region of Xinjiang, via a network of highways, railways, oil and natural gas pipelines and optic fibre networks.
Addvalue will design and supply the various bespoke satellite communication products needed in meeting the complex communication and monitoring demands of the CPEC.
Both companies will also set up operating entities in related nations or regions to provide sales and technical services to support satellite communication.