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Westminster to begin work on US$4.5mln Middle East contract after receiving payment

The security company is also close to finalising a separate major project in the Middle East
Westminster
The contract is expected to be largely delivered during the current financial year

Security company Westminster Group PLC (LON:WSG) said it will start work on a recently awarded US$4.5mln contract in the Middle East after receiving advanced payment.

The group announced in March that its technology division had picked up the contract to screen vehicles as they enter a high-security facility.

READ: Westminster shares surge as it edges closer to Middle East deal

Now that it has received the advanced payment, Westminster said the project will commence with immediate effect and is expected to be largely delivered during the current financial year.

The group is still waiting on the final sign-off of a separate major security project in the Middle East worth about US$24mln a year.

The remaining contractual and commercial issues have been agreed with completion of the deal expected anytime soon.  

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