SRT Marine kicks off EUR 167m Indonesian Coast Guard project

(Sharecast News) - SRT Marine Systems confirmed the formal start of its €167m National Maritime Security System (NMSS) project with the Indonesian Coast Guard on Tuesday, following the completion of financing and contractual conditions. The AIM-traded firm said the programme, which began with immediate shipments, would be delivered in phases over two years and followed by eight years of ongoing support, maintenance and data services.

It said the NMSS initiative would see the deployment of SRT's integrated maritime domain awareness (MDA) system, providing Indonesia with advanced real-time surveillance and intelligence capabilities across its exclusive economic zone and territorial waters.

The system incorporated AI-driven analytics to monitor activities such as illegal fishing, smuggling, and maritime safety, and would act as a centralised marine data integration platform connecting various national agencies.

SRT said the project would include the installation of command centres, coastal surveillance towers, long-range drones, and integration with patrol vessels, forming a comprehensive C5iSR (Command, Control, Communications, Computers, Combat systems, Intelligence, Surveillance and Reconnaissance) capability.

It said the system offered a scalable and future-proof foundation for the further expansion of Indonesia's maritime security infrastructure.

"I am delighted that the €167m NMSS project has now started," said chief executive officer Simon Tucker.

"Indonesia is a fast moving, ambitious, high growth economy with a massive and complex marine domain, and our customer has the considerable challenge of effectively and efficiently managing it.

"This project delivers a sovereign national capability owned and operated by the government of Indonesia that enables them to build up a massive national dataset within a system they own, control and operate that has highly configurable functionalities to provide deep insight."

Tucker added that the flexible AI powered architecture of the SRT-MDA System would enable them to continue to grow and evolve the system in the future alongside their "ever-changing" operational needs and scale.

"We look forward to a long and mutually beneficial sovereign partnership with Indonesia."

At 1006 BST, shares in SRT Marine Systems were up 5.93% at 62.5p.

Reporting by Josh White for Sharecast.com.