Since February 2004 the Training College Consortium, a 50:50 joint venture between the Bahwan Engineering Group and Serco Group plc (Serco), has been bidding to build and operate a military training college in Oman on behalf of the Oman Ministry of Defence.

The Training College Consortium has been informed that the Oman Ministry of Defence no longer wishes to proceed with its project.

The anticipated annual operating revenue to Serco was £7m per annum from 2011 for 17 years. 

Serco will announce its preliminary results for the year to 31 December 2007 on 27 February.