Smiths Group wins biggest-ever airport contract
Technology firm Smiths Group has won a major contract to equip the New Doha International Airport (NDIA) in Qatar, the biggest single-airport contract that it has ever been awarded.
Technology firm Smiths Group has won a major contract to equip the New Doha International Airport (NDIA) in Qatar, the biggest single-airport contract that it has ever been awarded.
The contract, worth more than €100m to Smiths Group's subsidiary Smiths Detection, will see the company provide a range of automatic x-ray and trace detection systems to screen passengers and luggage for weapons and illegal goods.
""NDIA's choice of Smiths Detection for its main security contract is testament to the quality, reliability and cost-effectiveness of our world-leading technologies," said Smiths Detection's President Mal Maginnis.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The award was received after intensive and long work in close co-operation with Smiths Detection's local representative Qatar Security Systems Co. (QSS). We are very proud to play a central role in such an important transport hub in one of the world's most dynamic regions," he said.
The first expansion phase of the airport, which will be 12 times bigger than the old Doha facility, is expected to be completed early next year. When fully completed, it will be able to handle 24m passengers and two millions tonnes of cargo a year.
Shares were up 3.43% at 1,055p after the announcement this afternoon.
BC
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Water companies blocked from using customer money to pay “undeserved” bonuses
The regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
By Katie Williams Published
-
Will the Bitcoin price hit $100,000?
With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
By Dan McEvoy Published