General Dynamics Electric Boat Lands $330M Nuclear Submarine Contract Option

submarineGeneral Dynamics‘ (NYSE: GD) Electric Boat subsidiary has secured a $329.6 million contract modification to perform design, planning yard, engineering and technical support work on active nuclear submarines for the U.S. Navy.

The service branch obligated $284, 038 from its fiscal 2016 “other” procurement funds at the time of award of the modification, the Defense Department said Friday.

Seventy-three percent of the work will take place in Groton, Connecticut and the rest will occur at various locations in Washington, Virginia, Rhode Island, Georgia and Hawaii.

The Pentagon expects General Dynamics Electric Boat to complete work in September 2018.

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