1st Oct 2014 07:10
(An item published at 0726 BST misstated the day. The correct version follows.)
LONDON (Alliance News) - Defence contractor Babcock International Group PLC Wednesday said it has won a GBP2.6 billion contract extension to continue providing services at the Clyde and Devonport naval bases through to March 2020.
In a statement, the company said the new agreement, which falls under the Ministry of Defence's maritime support delivery framework and replaces the existing warship support modernisation initiative contracts, will also cover a number of surface ship projects.
The company said about GBP600 million of the contract value is already included in its order books.
"Consequently, and as previously indicated, signature of the new contracting arrangements will enable the order book to reflect around a further GBP2 billion for work that would previously only have been brought into the order book on signature of separate contracts," it said.
By Steve McGrath; [email protected]; @stevemcgrath1
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