(Alliance News) - SRT Marine Systems PLC on Thursday said it has signed USD180 million contract with a national coast guard, to provide an integrated maritime surveillance and intelligence system.
The Somerset, England-based provider of maritime domain awareness systems and technologies for surveillance, security, safety and environmental protection said the project will be implemented over a two-year period, which will be followed by a support and data services period of eight years.
The company added that the implementation of the contract accounts for 85% of its value, with the remaining 15% constituting support and data services.
The firm said the contract will deliver the national implementation of its SRT-MDA System integrated maritime surveillance, intelligence and command & control system, which will integrate coastal, vessel, drone and satellite sensor systems within a network of fully connected command centres.
According to SRT Marine, this will provide a "high level of maritime domain situational awareness," through vessel and event detection across the customer's entire marine domain.
SRT Marine shares rose 17% to 54.00 pence each in London on Thursday afternoon.
By Harvey Dorset, Alliance News reporter
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Srt Marine Sys. (SRT)