Aggreko gains from rescheduled Tokyo Olympics date

0
5

Aggreko PLC (LON:AGK) said it has won a revised US$315mln contract to supply temporary power generators for the Tokyo Olympic and Paralympic Games.


The Games are currently scheduled to take place this summer, though governors in Tokyo have recently requested another state of emergency be called due to rising cases of coronavirus.


FTSE 250-listed Aggreko said it has agreed and signed contract revisions with the Tokyo Organising Committee of the Olympic and Paralympic Games (TOCOG) to reflect both scope changes and the impact of the delay of the Games from 2020 into 2021.


The group said in November that its preparations for the Olympics were progressing well.


Originally expected to be worth US$200mln, in March last year the contract was said to have increased in worth to around US$250mln, of which the company had received US$98mln of milestone payments.

LEAVE A REPLY

Please enter your comment!
Please enter your name here