The Navy and General Dynamics announced a nuclear submarine contract worth $234 million last week.
If all options are exercised, the deal could be worth as much at $1.5 billion over five years, according to a release from the company. General Dynamics' Electric Boat subsidiary will provide planning yard work, engineering and technical support for the maintenance of the fleet, along with modernization efforts. This will also include logistics support, research and development, training, consulting and information services.
The work will take place within Electric Boat's 4,000-employee engineering and design division. Headquartered in Groton, Conn., Electric Boat's work for the nuclear Navy dates to a contract to build America's first nuclear-powered submarine in 1951.