| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Serco wins up to £870m Goose Bay contract extension in Canada
StockMarketWire.com
|
Services provider Serco said it had won a contract extension worth up to around £870 million to provide support services at the 5 Wing forces base in Goose Bay, Canada.
The initial 10-year contract period had an estimated ceiling value of C$694 million or about £400 million.
The contract had provision for two further five-year extensions with a potential ceiling value to Serco over the full 20 years of about C$1.5 billion (around £870 million).
The contract was awarded after an open tender process and would commence in September.
Serco said it anticipate annual revenue of £20 million-to-£30 million in the opening years, which was similar to the level seen in recent years on an existing agreement.
'Under the contract, Serco will continue to perform the majority of the non-military operation and maintenance functions at this base, located in Central Labrador,' the company said.
Story provided by StockMarketWire.com
|
|
|
|
|
|
