Serco secure Royal Navy contract worth £200M

By Stephen Emerson

17 November 2022

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Portsmouth is to benefit from a £5m health project

Hampshire firm Serco has secured a £200million, 27 month contract with the Royal Navy.

Due to commence in December 2022 the 'marine services provision contract' extends the current private finance initiative (PFI). The MOD has an option to extend the new terms for six months.

Serco employ some 650 mariners at HMNB Devonport, Portsmouth, Clyde and the BUTEC, the Kyle of Lochalsh, and overseas. The firm's tug boat fleet will assist Royal Navy ships entering and exiting UK harbours, provide support services such as maintenance of buoys, moorings and landing of naval personnel.

In a statement to shareholders Rupert Soames, Serco Group Chief Executive, said: "Serco is delighted to be continuing to provide these vital services to support the Royal Navy.

"We are proud of our service over the last 25 years and especially of our team, which combines decades of experience with highly specialised skills. Many of the team are Navy veterans and have longstanding connections to the national maritime community.

"We look forward to continuing this support for many years to come, drawing on Serco's increasing global maritime presence to innovate for our customers in the UK."

Main image Portsmouth, UK - June 10, 2018: HMS QUEEN ELIZABETH - the Royal Navy's newest and largest ever warship - sails from Portsmouth for only the second occasion, this time heading for the USA for first of class flying trials and warm weather sea trials. Credit Istock.

By Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.