Stratech wins second contract to upgrade surveillance system at Changi Airport
The Stratech Group has clinched a contract to upgrade its iFerret intelligent airfield/runway surveillance and foreign object & debris (FOD) detection system at Singapore Changi Airport.
This follows an earlier contract that was awarded in April for the first phase of the iFerret upgrade.
With the latest upgrade, Changi Airport will have the world's most advanced iFerret system on its runways, said the airport solutions provider in an announcement.
Under the contract, the iFerretTM at Changi Airport will be enhanced with high definition electro-optic sensor technology and new software features, which will provide a panoramic view of the runway and sharper vision of any FOD detected on the air strip.
In addition, the firm said that an option for an initial period of five years under the contract awarded in April has also been exercised.
The contracts for both phases include options to install the system at the airport's upcoming third runway, maintenance and other works.
Citing confidentiality factors, Stratech said it was unable to provide contract details but added that it is expected to contribute positively to its financials over the next five years.
Stratech shares closed 0.3 Singapore cent or nearly 6 per cent higher at 5.7 Singapore cents on Wednesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UOB Kay Hian says ‘disadvantageous’ to reveal details of key management’s remuneration
Deutsche Bank has cut dozens in Asia private banking overhaul
Middle East violence heightens market fears of rate hikes, inflation
Tokyo's Nikkei drops more than 1,000 points, most in 3 years
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece