12th Mar 2020 12:07
(Alliance News) - Security company Westminster Group PLC said Thursday that the main contract for the container screening project at Tema Port, Ghana, has been signed with Meridian Port Services Ltd and Scanport Ltd.
The contract signing has confirmed Westminster as the technical partner for the duration of the five-year contract, and arrangements have been made for one of the group's directors to travel to Ghana to finalise the associated contract between Westminster and Scanport.
In June 2019, Westminster signed a technical partnership agreement with Ghanaian firm Scanport. Under the contract the company entered into negotiations with Meridian Port Services, the operator of the Tema port, for a contract to manage container screening services.
Tema is a USD1.5 billion investment project by Meridian Port Services to raise the port's capacity to 3.5 million twenty-foot equivalent units per annum from 1 million.
A letter of intent was signed acknowledging Westminster as the technical partner, however formal contracts had not been finalised, leading to the letter's extension for a further period.
In addition, Westminster said container volumes and revenue relating to the project have increased, with daily averages in 2020 to date up 59% from 2019, and volumes are expected to increase higher in 2020.
Shares in Westminster were down 2.0% at 8.57 pence on Thursday on London.
By Dayo Laniyan; [email protected]
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