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July 1 (Reuters) – Australia’s Austal Ltd (ASB.AX) mentioned on Friday it secured a $3.3 billion contract to design and assemble 11 offshore patrol cutters (OPC) for the United States Coast Guard.
The shipbuilder now expects its fiscal 2022 working earnings to be larger than beforehand forecast A$107 million ($73.81 million) on account of the contract.
The building of the OPC will start in 2023 on the firm’s new $100 million metal shipbuilding facility in Mobile, Alabama, the corporate mentioned in a press release.
OPCs, a medium endurance fleet, can conduct missions together with legislation enforcement, drug and migrant interdiction, and search and rescue operations.
($1 = 1.4497 Australian {dollars})
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Reporting by Tejaswi Marthi in Bengaluru; Editing by Subhranshu Sahu
Our Standards: The Thomson Reuters Trust Principles.
Australia’s Austal secures $3.3 bln contract from U.S. Coast Guard & More Latest News Update
Australia’s Austal secures $3.3 bln contract from U.S. Coast Guard & More Live News
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