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.
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
