10th Dec 2018 12:11
LONDON (Alliance News) - Teams led by defence companies BAE Systems PLC, Babcock International PLC and Atlas Electronic UK have been shortlisted by the UK Ministry of Defence to build the UK's newest frigate, the Financial Times reported on Sunday.
The newspaper reported the award of contracts worth up to GBP5.0 million to each company from the ministry, to support the design stage of the Type 31e frigate.
The new ships will replace the Type 23s, carrying out maritime security, interdiction and other tasks.
Referring to an announcement by the Ministry, scheduled for Monday, the FT said that the preferred bidder will be announced by the end of 2019, as the first five frigates are scheduled for delivery in 2023.
https://www.ft.com/content/074ea42c-fa2c-11e8-8b7c-6fa24bd5409c
Babcock shares were trading down 1.5% at 514.90 pence on Monday, while BAE Systems shares were up 0.8% at 453.10p.
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