Westminster Group PLC (LON:WSG) has agreed terms for a possible new 25-year contract to run security operations at an airport in the Middle East.
A new memorandum of understanding (MoU) has been signed with a Middle East Civil Aviation Authority for the provision of long term aviation security services at a significant international airport, it told investors.
The airport services several million passengers each year, it added.
It comes as the airport authority looks to urgently improve its security approach amid heightened worldwide threat levels and as it forecasts new significant growth at the airport.
Arrangements are now being made for Westminster’s technical experts to establish technical and operational requirements prior to final contract negotiations, the company said.
Peter Fowler, Westminster chief executive, in a statement told investors: "I am delighted to announce this latest and strategically important development in our roll out of long term managed services projects around the world.
“This latest MoU and other recent developments indicate the momentum we are building.”
He added: "Whilst there is of course no certainty as to timing or the final outcome of this MoU or any of the project opportunities in progress we believe the number of long term large scale MoU's now in play, any one of which would be transformational for Westminster, and the momentum we are seeing together with the current security situation worldwide is encouraging and we will of course continue to update the market on progress in due course."
Today’s contract news is the result of many months of business development work and negotiations, and marks Westminster’s third significant new business win in 2016 to date; following a multi-site long term airport contract signed in January and, in February, a new deal to provide technology as part of a 20-year border security project in the Middle East.