HOOK (dpa-AFX) - Outsourcing services company Serco Group Plc (SRP.L) said on Wednesday that it has secured a rebid to offer support services at the 5 Wing Canadian Forces Base in Goose Bay, Canada.
The early 10-year period of the contract has an estimated ceiling value of C$694 million or approximately 400 million pounds.
The contract, which can be extended twice for 5 years each, has a potential ceiling value, including indexation, of around C$1.5 billion or 870 million pounds over its complete term.
The company expects annual revenues of 20 million pounds to 30 million pounds in the initial years of the contract, as seen in the existing agreement as well. Secured after an open tender process, the contract will start from September this year.
As per the contract, Serco will continue to perform most of the non-military operation and maintenance services at the base, which include aviation services, fire and rescue services, logistics services and facilities management services.
Serco has been providing services to the Canadian Department of National Defense at 5 Wing Goose Bay since 1998.
Copyright RTT News/dpa-AFX
© 2021 AFX News
