FALLS CHURCH (dpa-AFX) - The U.S. Navy today awarded General Dynamics Electric Boat a contract valued at $22.2 billion for the construction of 9 new Virginia-class submarines.
The contract also includes the option of a tenth ship to be constructed within the contract time frame, bringing the total potential contract value to about $24.1 billion.
The company will begin construction on Block V ships this year, with deliveries scheduled from 2025 through 2029.
The company noted that the multi-year 'Block V' contract enables Electric Boat as prime contractor, along with its teammate, Newport News Shipbuilding, to deliver Virginia-class fast-attack submarines with advanced capabilities and expanded capacity to the Navy.
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