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Serco bags an elephant

The group has secured a £1.6bn contract for an Australian prison
March 16, 2017

Last month, Serco's (SRP) chief executive Rupert Soames said he had identified six “elephants lurking in the Savannah” in the outsourcer's pipeline of potential new contracts. The first of these has been bagged, with the company named as preferred bidder on a £1.6bn Australian prison contract starting in 2020.

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Serco is part of a consortium of four - alongside John Holland, John Laing (JLG) and Macquarie Capital - that will design, build and operate what will be the largest prison in Australia. The group had £7bn worth of contracts due to be decided this year, so it is still looking at potentially £5.4bn of further wins should everything go its way.