Capita plc (CPI) on Tuesday said has been awarded a contract expansion to provide comprehensive training services for Marine Engineering within the Royal Navy at HMS Sultan, the home of Marine Engineering Training Group and the Royal Naval Air Engineering and Survival School.
The additional scope, valued at 97 million pounds, is an expansion of the existing Royal Navy contract and would commence on May 1, 2025, for a term of seven years and 11 months. The Royal Navy training contract now has a total value of approx. 1.3 billion pounds.
According to the company, "The marine engineering training is to be delivered under the existing Royal Navy training contract, and as such the total IFRS 15 transaction price (order book) will be included within the existing order book. The existing Royal Navy training contract IFRS 15 transaction price (order book) will increase by £97 million as a result of this expansion."
This marks the 10th service transition managed under the Royal Navy training contract that was originally awarded to Capita in 2021.
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