Westminster Group wins African ferry service deal

11th Aug 2014 12:52

Security and fire protection product supplier Westminster Group has signed a deal worth up to $300m to provide infrastructure and management services for a new ferry route in Africa.Westminster and 50/50 joint venture partner, UK sea ferry company CWind, have signed an initial agreement with an unidentified African government before inking a 25-year contract to start from the end of this year.The service dubbed Sovereign Ferries will transport passengers between key national facilities and the main conurbations of the unnamed country and will be expanded to include a water taxi around the coast to neighbouring territories,Westminster's chief executive Peter Fowler said: "We expect this service to share many of the strong financial dynamics which are already being delivered by our existing managed services business."Shares rose 4.75p or 9.8% to 53p by 12:27 in London.PW