30th Oct 2024 21:16
SRT Marine Systems PLC - global provider of maritime domain awareness systems - Inks contract with the Kuwait Ministry of Interior, worth USD213 million, to deliver an integrated SRT maritime surveillance system. The contract is for a state-of-the-art national maritime surveillance system for the Kuwait Coast Guard and other relevant agencies. Says that implementation starts immediately, and is expected to take up to two years, followed by ten years of support, training and maintenance.
Chief Executive Officer Simon Tucker says: "Winning this landmark contract is a huge honour and achievement for SRT and reflects our many years of technology and project delivery capacity investment. This system will undoubtedly be amongst the most sophisticated maritime surveillance systems in the world, incorporating several significant innovations along with full integration and digitisation of surveillance and command and control which will provide a powerful tool to enhance national security and maritime safety and environment protection and sustainability. We look forward to working with our new sovereign partner to deliver this contract and more in the coming years."
Current stock price: 42.00 pence
12-month change: up 7.7%
By Holly Beveridge, Alliance News senior reporter
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