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Va. shipbuilder gets $142.7M Navy sub contract

Friday - 10/26/2012, 12:45pm  ET

NEWPORT NEWS, Va. - Newport News Shipbuilding is beginning work on a contract related to the Navy's submarine program.

The division of Huntington Ingalls Industries said Thursday it has received a contract valued at $142.7 million for work on operational and decommissioning Navy submarines. It also includes work on conversion submarines, special mission submersibles, submarine support facilities and related programs.

Officials say the work will include engineering, research and development, modernization and logistical support.

Work is expected to begin immediately and continue through September 2013.

The company says the Virginia shipyard is one of only two U.S. shipyards capable of building nuclear-powered submarines and has completed more than 200 ship repair projects for the U.S. government since the early 1990s.

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