General Dynamics‘ (NYSE: GD) Electric Boat subsidiary has received a $311 million contract from the U.S. Navy to provide planning yard, engineering and technical services for the branch’s fleet of nuclear submarines.
The contract’s value could increase to $1.5 billion over a five-year period if the Navy exercises all options, General Dynamics said Friday.
Electric Boat will also support research, design, development and logistics activities related to the branch’s active submarines and submersibles.
Work also covers information services, scheduling, maintenance, training, modernization, cost management and facility support.
Electric Boat’s more than 4, 000-employee engineering and design organization will deliver the services to the Navy.