A Fluor (NYSE: FLR) subsidiary has been awarded a potential $1.78B contract modification to continue development of naval nuclear propulsion technology for the U.S. Navy.
The service branch will obligate $290.8M at the time of award for continued work at the Naval Nuclear Laboratory, the Department of Defense said Thursday.
Fluor Marine Propulsion initially secured a $13.07B cost-plus-fixed fee contract in July 2018 to operate NNL for the departments of the Navy and Energy.
NNL is made-up of the Bettis and Knolls Atomic Power Laboratories, Naval Reactors Facility and the Kenneth A. Kesselring Site. These facilities provide technical support to maintain the reliability and safety of U.S. submarines and aircraft carriers.
Work under the modification will take place in New York, Pennsylvania, Idaho and South Carolina.