Author: Naomi Cooper|| Date Published: April 22, 2024
HII (NYSE: HII) has received a $120.3 million contract modification from the U.S. Navy to create a special incentive program to improve the quality of life for sailors stationed at the company’s facility in Newport News, Virginia.
The modification was made under a previously awarded contract for the design and construction of the future USS Enterprise nuclear aircraft carrier, the Department of Defense said Thursday.
Work will occur in Newport News, Virginia, through April 2026.
Naval Sea Systems Command will obligate $40 million in the service branch’s fiscal 2024 shipbuilding and conversion funds.
In May 2016, HII secured a potential $152 million contract to design and engineer the Navy’s future nuclear-powered aircraft carrier.
The company was awarded a $100 million contract modification in December 2023 to establish a Nuclear Enterprise Workforce Special Incentive program to support the recruitment and training of personnel involved in nuclear ship construction and repair activities.
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