Gulf Island Shipyards Land $129M Navy Contract Options for Towing, Salvage & Rescue Shipbuilding

Gulf Island Shipyards has been awarded $128.5M in contract options to build two towing, salvage and rescue ships for the U.S. Navy.

Naval Sea Systems Command will use fiscal 2016, 2018 and 2019 shipbuilding funds to cover the full obligated amount for the shipbuilding projects, the Department of Defense said Tuesday.

The company aims to complete the vessels by November 2021.

The Navy is procuring up to eight TSR boats under a $523M contract awarded in March of last year.

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