15th Nov 2019 14:30
(Alliance News) - Babcock International Group PLC said Friday it was won a contract from the UK Ministry of Defence for the delivery of its latest fleet of warships, under the Type 31 general-purpose frigate programme.
The programme will provide the MoD with a fleet of five ships at an average cost of GBP250 million per ship, or GBP1.25 billion in total.
The frigates will be assembled at the FTSE 250 engineering firm's facility in Rosyth, Scotland, and include supply chains across the UK.
Shares in Babcock International - which is headquartered in London - were up 1.5% at 523.60 pence on Friday.
By Dayo Laniyan; [email protected]
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