$15 million contract for simulation training in the Gulf region
Baltimore, MD — GSE Systems Inc . a leading global provider of real time simulation-and-training solutions to the power, process, manufacturing and Government sectors, announced the award of a major contract from the Emirates Simulation Academy, LLC, located in the United Arab Emirates. GSE will provide five real-time, high fidelity simulators including a gas turbine power plant, a desalination plant, a combined cycle plant, a petroleum refinery and an oil platform. In addition, GSE will be responsible for developing the training programs associated with the simulators, as well as the development of traditional classroom and online training content.
The contract amount is slightly over $15 million. An option in the contract to purchase hardware would add an additional $1.4 million. This represents the largest single contract award since the company went public in 1995. Revenue from the contract is expected to be recognized over the next 20 months. The first Emirates Simulation Academy is scheduled to be fully operational by September 2007, and will be located in Abu Dhabi. Locations for additional Academies are currently being developed.
— Richard Phelps, senior editor, Control Engineering