(Alliance News) - Babcock International Group PLC on Friday said that it signed a contract with the UK Ministry of Defence's Submarine Delivery Agency.
The London-based aerospace and defence firm said the deal aims to deliver infrastructure required to support and sustain the UK's submarines "for decades to come."
The contract includes a dock, logistics and modern support facilities.
"Crucial to the UK submarine programme, the contract forms part of the site-wide infrastructure upgrade programme at Devonport to enable the ongoing delivery of base maintenance periods and deep maintenance projects for current and future classes of submarine, including nuclear defuel," it said.
Chief Executive Officer David Lockwood said: "The work we deliver in sustaining the entirety of the UK's submarine fleet is critical. This investment will ensure that we are able to continue to deliver the complex maintenance and life-extension programmes we undertake to ensure our Royal Navy can continue to go to sea safely, and able to deliver their important work in protecting our nation."
Babcock shares were 0.1% lower at 401.80 pence each on Friday afternoon in London.
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Babcock (BAB)
