PR Newswire
GROTON, Conn. , Oct. 3, 2023 /PRNewswire/ -- General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today it has been awarded a $967 million contract modification from the U.S. Navy for Lead Yard Support and Development and Design efforts for Virginia-class fast-attack submarines.
The cost-plus-fixed fee modification to a previously awarded contract totals $967,185,528 . Work will be performed in Groton, Connecticut ; McLeansville, North Carolina ; Newport News, Virginia ; and Newport and Quonset Point , Rhode Island . Work is expected to be completed by October 2024 . This contract was awarded on September 29 . 2023.
"This contract award supports critical work to further advance the capability and superiority of the Virginia class submarine," said Kevin Graney , president of General Dynamics Electric Boat. "We are proud to continue our tradition of delivering this state-of the-art platform that ensures the safety of our sailors and their continued dominance in the undersea domain."
Virginia-class submarines are designed for the full range of 21st-century mission requirements, including anti-submarine and surface ship warfare and special operations support.
General Dynamics Electric Boat is the prime contractor and lead design yard for the Virginia class and constructs the ships in a teaming arrangement with HII's Newport News Shipbuilding in Virginia .
General Dynamics Electric Boat designs, builds, repairs and modernizes nuclear submarines for the U.S. Navy. Headquartered in Groton, Connecticut , the company employs more than 21,000 people. More information about General Dynamics Electric Boat is available at www.gdeb.com .
General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2022. More information about General Dynamics is available at www.gd.com .
SOURCE General Dynamics