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Westminster Group benefits from Ghana reports of progress in Tema talks

The security group is working with port operator Meridian Port Services (MPS) to provide an x-ray-based container screening system at the port.

Westminster Group PLC -
Westminster will get paid for contaiaers coming in and out of Terminal 3 at Tema

Westminster Group PLC (LON:WSG) has attributed a recent uptick in its share price to reports in Ghana that a deal is close on terms of the contract for the new terminal at the Port of Tema.

The security group is working with port operator Meridian Port Services (MPS) to provide an x-ray-based container screening system at the port.

In a statement on Monday, Westminster said it believed the shares had reacted to recent articles in the Ghanaian press on the state of negotiations between Meridian and the Ghana Ports and Harbours Authority (GPHA).

In September, the screening venture, Scanport Westminster, started to receive payments on account for work undertaken at Tema's Terminal 3 ahead of the formal signing of contracts.

In its statement today, Westminster said: “The company is pleased to note that the ongoing discussions between Meridian Port Services and the GPHA are reported to have made significant progress and are close to being finalised.

“The company will update the market further on this managed services contract once the contracts are signed.”

Tema's new container port (Terminal 3) is a US$1.5bn project being undertaken by MPS.

Westminster shares were up 16% to 12.52p on Monday morning.

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Price: 14 GBX

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Investor Update: Westminster Group highlights positive Tema negotiations reports

Headlines from the Proactive UK newsroom. Security Group Westminster’s (LON:WSG) says it’s pleased to note the ongoing discussions between Meridian Port Services and the Ghana Ports and Harbours Authority are reportedly making significant progress and are close to being finalised. The...

2 weeks, 4 days ago

2 min read