Singapore has awarded a SGD400 million contract to a 'private-public partnership' to resolve its submarine rescue requirements. The contract involves establishment of a joint venture between Singapore-based Singapore Technologies Marine (ST Marine) and UK-based James Fisher Defence (JFD) for meeting submarine rescue requirements of Singapore. The contract is comprised of two parts. First part require design and development of a fully integrated ship and submarine rescue system, while second require operation and maintenance of the system for 20 years. ST Marine will receive 60 percent of total revenues, while JFD will receive 40 percent of total revenue. ST Marine will design and develop Submarine Support and Rescue Vessel (SSRV), while JFD will design and develop Submarine Rescue Vehicle (SRV). The 20-year contract is due to begin from second quarter of 2009.