Hello, Guest!
  • Friday, April 26, 2024

Navy Awards Lockheed $481M Contract to Fund Saudi Arabia Surface Combatant Ship Materials


Lockheed Martin (NYSE: LMT) has received a $481.2 million contract from the U.S. Navy to obtain long-lead-item materials the company will need to build four multimission surface combatant ships for Saudi Arabia.

MMSC is designed to support littoral and open-ocean missions, the Defense Department said Monday.

The Naval Sea Systems Command is the contracting activity and will obligate $240.6 million in foreign military sales funds at the time of award.

NAVSEA did not conduct a competitive procurement for the contract in accordance with the terms of an agreement between the U.S. and Saudi Arabia.

Saudi Arabia finalized a $6 billion deal with the company last year to procure MMSCs and related equipment.

Lockheed will perform contract work in Massachusetts, Washington, D.C., New Jersey, Wisconsin,  Missouri, Sweden and Canada through October 2024.

Video of the Day

Related Articles

General Dynamics Wins $344M Navy Contract for LHD 5 Amphibious Assault Ship Maintenance Support Contract Awards

General Dynamics Wins $344M Navy Contract for LHD 5 Amphibious Assault Ship Maintenance Support

A General Dynamics (NYSE: GD) subsidiary has won a potential $343.7 million contract from the U.S. Navy to provide modernization, repair and maintenance support services for the USS Bataan (LHD 5) Wasp-class amphibious assault ship. Naval Sea Systems Command launched a full and open competition and received two offers for the USS Bataan (LHD 5)

General Dynamics Secures $344M Navy Contract for Zumwalt-Class Destroyer Planning Yard Services Contract Awards

General Dynamics Secures $344M Navy Contract for Zumwalt-Class Destroyer Planning Yard Services

A General Dynamics (NYSE: GD) subsidiary will provide planning yard support services for the U.S. Navy’s Zumwalt-class guided missile destroyers under a potential five-year, $343.7 million contract. The cost-plus-award-fee contract has a $22.7 million base value that will run through March 2025, the Department of Defense said Friday. Planning yard work includes DDG 1000 maintenance

General Dynamics Electric Boat Secures $145M Navy Contract Modification for Submarine Engineering Support Contract Awards

General Dynamics Electric Boat Secures $145M Navy Contract Modification for Submarine Engineering Support

A General Dynamics (NYSE: GD) subsidiary will continue to help the U.S. Navy design and provide engineering support for operational strategic and attack submarines under a potential $145 million contract modification. The award also extends technical, design agent and planning yard support services for the service branch, the Department of Defense said Thursday. General Dynamics