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Birmingham Post
Birmingham Post
Abigail Turner

Bath-based marine engineering firm secures £144m deal

A Bath-based maritime engineering firm has signed a £144m contract with a national coast guard.

SRT Marine Systems, a global provider of maritime domain awareness systems and technologies for security, safety and environmental protection will supply an integrated maritime surveillance and intelligence system to the unnamed coast guard.

The signing of the contract took place at a confidential ceremony at the coast guard's headquarters on Wednesday (May 17) and was attended by the leadership of the coast guard, local government officials and UK embassy staff.

SRT said the project has an expected implementation period of approximately two years, followed by a support and data services period of eight years. The implementation of the system accounts for approximately 85% of the value, with the remaining 15% related to support and data services.

Read more: South West energy firms to pay £4m compensation for overcharging customers

The signing of the contract was triggered by the completion of a government-to government project finance MoU agreement, which paves the way for the completion of the project-specific inter-government UKEF supported loan agreement for this contract, which the customer’s government is using to finance the project.

SRT said that the contract will deliver a "state-of-the-art" national scale implementation of the SRT-MDA system, integrated maritime surveillance, intelligence and command and control system. It will also integrate multiple coastal, vessel, drone and satellite sensor systems within a network of fully connected command centres.

Simon Tucker, chief executive of SRT Marine Systems, commented: “The SRT-MDA System will enable our customer with exceptional, fully autonomous strategic and tactical maritime surveillance and intelligence that places it amongst the leaders globally in this capability area.

"We expect them to reap numerous benefits that include environment protection, improved safety, security and prevention of illegal fishing, all achieved with a high level of efficiency and effectiveness resulting from the system. We look forward to a long relationship with our expectation of this being just the first of many contracts in the years and decades to come.”

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