Australian shipbuilder Austal
(ASX:ASB) has announced it has won an $18 million sustainment contract for the Royal Australian Navy for its Cape-class patrol boats.
The three-year contract will employ local contractors using Austal‘s own facilities in the Cairns area.
The sustainment work will be in addition to the work undertaken by Austal for the Australian Border Force.
Austal’s 58-metre Cape-class patrol boats were designed and built specifically for the needs of border protection and maritime security for Australia’s Border Force and Navy.
Austal CEO Dave Singleton said the contract will allow export opportunities for Australia by effectively showcasing the vessel with our navy.
Shares in Austal
(ASX:ASB) are trading 1.29 per cent higher to $1.57.
