The U.S. Navy plans to award in July a contract to design and build its first next-generation frigate, Defense News reported Tuesday .
The competitors for the FFG(X) program are Huntington Ingalls Industries (NYSE: HII); Austal USA ; Fincantieri ; and the team of General Dynamics ’ (NYSE: GD) Bath Iron Works subsidiary and Navantia.
The service expects construction work on the first ship to be finished by 2026 and plans to place an order for the second frigate in April 2021 and the third ship in 2022.
According to budget documents, the Navy expects the whole FFG(X) program to cost $19.81B with the first frigate projected at approximately $1.28B.
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