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Business/Financial

Navy Awards General Dynamics A Whopping $17.6 Billion Contract For Subs

Defense Daily Staff

Monday, April 28th, 2014

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Navy Awards General Dynamics A Whopping $17.6 Billion Contract For Subs

The Virginia-class attack submarine USS North Carolina (SSN-777). (Photo: U.S. Navy)

The Navy awarded General Dynamics’ [GD] submarine construction unit a contract exceeding $17.6 billion on Monday for 10 Virginia-class (SSN-774) attack subs. The contract is the largest in dollars the Navy has ever awarded for shipbuilding, and takes place over a five-year period beginning this year. Additional options for repair and other work under the Block IV phase of the program could push the total value for General Dynamics Electric Boat, based in Groton, Conn. to $17.8 billion. It also…

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