Last checked at 17 Jul 2019 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014
Westminster Group Plc
('Westminster', the 'Group' or the 'Company')
Update New Tema Container Port Project, Ghana
Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to provide an update on its operations at the new Tema Container Port, Ghana
The new Tema Container Port is a $1.5billion US Dollar investment project by Meridian Port Services ('MPS'), expanding the port's capacity from 1 million Twenty-foot Equivalent Units ('TEU') pa to over 3.5 million p.a., creating a world-class container port operation.
In the Company's AGM Statement released on 18 June 2019, it was announced that Scanport Ltd. had received a Letter of Intent ('LoI') with MPS acknowledging Westminster as the Technical Partner regarding a contract to manage, operate, maintain and upgrade, as necessary, the container screening services at the new Tema Container Port setting out the preliminary terms regarding the appointment and scope of work and that negotiations were underway towards concluding a contract within the 30-day exclusivity period.
Whilst formal contracts have not yet been finalised, the Scanport-Westminster partnership is the sole appointed contractor for scanning operations at the new port and has established a full scanning operation both at the primary scanning stations at the import and export gates and also secondary screening services at the intensive search area for physical inspections; in total employing around 50 personnel with another 124 applicants undertaking induction and x-ray training by Westminster specialists. The LoI is therefore being extended for a further period to allow for the definitive contract to be finalised with MPS.
The first phase of the port expansion project was formally opened for business on Friday 28 June 2019 and the first two trial vessels have been successfully processed as all operations, including screening, at the port are tested to iron out any teething issues. The scanning services have performed well and are now operational 24/7 with around 2,000 containers screened by us to date.
Following successful operations across the port, it is expected that activity will continue to ramp up during the coming months as more and more vessels move to the new port.
Further details will be announced in due course.
For further information please contact:
Westminster Group Plc | Media enquiries via Walbrook PR |
Rt. Hon. Sir Tony Baldry - Chairman |
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Peter Fowler - Chief Executive Officer |
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Mark Hughes - Chief Financial Officer |
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S. P. Angel Corporate Finance LLP (NOMAD & Joint Broker) |
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Stuart Gledhill | 020 3470 0470 |
Caroline Rowe |
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SVS Securities PLC (Joint Broker) |
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Elliot Hance
| 020 3700 0100 |
Walbrook (Investor Relations) |
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Tom Cooper | 020 7933 8780 |
Paul Vann | 0797 122 1972 |
| tom.cooper@walbrookpr.com |
Notes:
Westminster Group plc is a specialist security and services group operating worldwide via an extensive international network of agents and offices in over 50 countries.
Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, encompassing a wide range of surveillance, detection, tracking and interception technologies and the provision of long-term managed services contracts such as the management and running of complete security services and solutions in airports, ports and other such facilities together with the provision of manpower, consultancy and training services. The majority of its customer base, by value, comprises governments and government agencies, non-governmental organisations (NGO's) and blue-chip commercial organisations.