SRT Marine Systems PLC (LSE:SRT) made a splash with investors after it won a US$213 million contract to deliver an integrated maritime surveillance system for a sovereign government ministry, sending its shares up 33% to 47.7p.
The formal contract is expected to be signed before the end of November, which would enable the contract to begin immediately afterwards.
SRT will provide the country's national coastguard with a new maritime surveillance system that integrates numerous multi-sensor surveillance platforms, both fixed and mobile, along with several integrated command centres.
The system is due to be delivered in full within two years, with SET providing an ongoing support and maintenance package for 10 years.
"This is a large and hugely exciting new project with a new customer in a new country, and the second contract of this scale to convert from our validated sales pipeline in the last 18 months," said SRT chief executive Simon Tucker.