Electic boat wins Navy submarine contract

Submarine construction company General Dynamics Electric Boat has been awarded a $171.8m (£113.2m) contract by the US Navy to provide lead-yard services for Virginia-class nuclear-powered attack submarines.

Under the contract, the company will maintain and update design drawings and data, including technology insertions, for each Virginia-class submarine throughout its construction and post-shakedown availability periods.

Additionally, Electric Boat will perform research and development to evaluate new technology to be inserted in newly built Virginia-class ships.

The contract has a potential cumulative value of $881m through 2014 if all options are exercised and funded.