18th Sep 2023 12:51
(Alliance News) - RA International Group PLC on Monday said it has won a "strategically significant" new contract with the UK's Foreign, Commonwealth & Development Office.
RA International is a specialist provider of complex and integrated remote site services. Its shares surged 55% to 13.20 pence on Monday afternoon.
The minimum two-year global framework agreement will see RA provide operational support capability funded through the Conflict, Stability & Security Fund.
The services which RA will most likely provide will be funded from a sub-lot allocated to the CSSF valued, at a maximum of GBP375 million over two years.
It said they relate to "providing and delivering operational and technical equipment to organisations in hostile environments in a Human Rights compliant manner."
RA added that the value, timing and location of future orders received by RA will be dependent upon the UK government's priorities and needs over the period of the framework agreement.
Chief Executive Soraya Narfeldt said: "This latest contract solidifies our relationships with the UK [Ministry of Defence] and FCDO further, following awards with the MoD OSCC in 2022 and FCDO earlier this year, and cements our group strategy. Our global reach, ability to mobilise quickly and self-perform, and our track record in delivering critical projects in environments where our clients are often faced with extreme political or operational constraints were key factors in our success in gaining a seat on the CSSF framework."
By Sophie Rose, Alliance News reporter
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