Aim-traded SRT Marine Systems (SRT: 55p), a global leader in technology used to track maritime vessels, has signed a massive $180mn (£145mn) contract with a foreign coastguard customer.
Delivery of a full marine domain awareness (MDA) system over a two-year implementation period accounts for 85 per cent of the contract value, with the balance of the revenue relating to an eight-year support and data services contract. The signing of the contract follows the completion of a project-specific intergovernmental UK export finance loan agreement, which the undisclosed customer’s government is using to fund the project.
Specifically, SRT will deliver a state-of-the-art national-scale integrated maritime surveillance, intelligence and control system that will integrate multiple coastal, vessel, drone and satellite sensor systems within a network of command centres. Operators will benefit from SRT’s proprietary analytics and visualisation technologies, which enable enhanced vessel and event detection across the customer’s entire marine domain, thus providing a high level of maritime domain situational awareness.