Electric Boat Receives $1.35B Contract Modification

Tuesday, January 31, 2006
The U.S. Navy awarded General Dynamics Electric Boat a $1.35 billion contract modification that provides funding for the construction of the eighth Virginia-class submarine and advance procurement for the ninth and 10th ships of the class. The award modifies an August 2003 contract for the construction of six Virginia-class submarines at a rate of one per year from FY 03 through FY 08; the total value of the contract is $8.4 billion. Altogether, Electric Boat and its construction teammate, Northrop Grumman, have received contracts to build 10 ships of the class. The lead ship, USS Virginia (SSN-774), was delivered to the Navy in October 2004. The contract modification has been factored into the company's workload projections since the initial contract was announced in 2003. It is not unplanned work. For that reason, it will not affect the number of layoffs the company will make over the next two years. The contract modification provides $1.1 billion for construction of SSN- 781, $208 million in advance procurement for SSN-782 and $40 million for SSN- 783. Fifteen percent of the work will be performed at Electric Boat's Groton shipyard; 15 percent at its Quonset Point, R.I., facility; 30 percent at Northrop Grumman in Newport News, Va.; and 40 percent at various sites throughout the U.S. Work under the overall contract is scheduled for completion in 2014 when SSN-783 is delivered.
Maritime Reporter November 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Tugboat Crew Missing After Collision

Five members of a tugboat crew are missing after a collision with a merchant ship about 9NM off Tanjung Gelang yesterday (30 October). One crew member was rescued by fishermen.

ClassNK Registered Al Kout Delivered to KOTC

Leading classification society ClassNK announced that it has completed work on the 165,178GT VLCC Al Kout, built by Daewoo Shipbuilding & Marine Engineering Co.

APM Terminals Organizes CSR Initiatives Under ‘I - Care’

APM Terminals Inland Services, South Asia continues to rollout its “I- Care” CSR master plan to help local communities in India improve their quality of life. Eye

Contracts

Royal IHC Bags Dredging Package Order

  Royal IHC (IHC) has secured a new contract with the Chinese shipyard, Jin Hai Heavy Industrial Group, for the delivery of a dredging installation package for a trailing suction hopper dredger.

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

Delta "T" Hooks for Offshore Customer

Gaining further ground into the offshore crane market, Delta "T" Systems supplied Cranston Eagle hooks to crane manufacturer Appleton Marine, Inc.   These cranes

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2518 sec (4 req/sec)