LONDON Feb 1 Qinetiq Group Plc said on
Friday it had renewed its support services contract with
Britain's Ministry of Defence (MoD), who will pay the defence
technology company 998 million pounds ($1.6 billion) for the
The renewed contract is the third term of the pair's Long
Term Partnering Agreement which was signed in February 2003 and
reviewed every five years. The deal runs until 2028 and is
valued at 5.6 billion pounds over 25 years, Qinetiq said.
Under the contract, Qinetiq manages 17 sites owned by the
MoD and is responsible for providing training support services
as well as maintaining equipment, land and buildings.
"We are committed to continuing to invest in these
capabilities over the next five-year period to provide this
vital service to the MOD in support of the front line," Chief
Executive Leo Quinn said.