Global ship building company Austal (ASX:ASB) has entered into an approximately $98 million contract with the National Infrastructure Development Company (NIDCO) which is owned by the Government of the Republic of Trinidad and Tobago.
The contract is for Austal to design and build a 94 metre high speed vehicle and passenger catamaran to be delivered in mid-2020.
The ship will provide high speed passenger and vehicle operations on the key sea bridge between the islands of Trinidad and Tobago.
The 94 metres AutoExpress ship design is being undertaken in Australia and is already well advanced which has allowed initial construction to commence.
The ship will be built in Austal’s new shipyard in Vietnam.
Shares in Austal (ASX:ASB) are trading 1.06 per cent higher to $1.91.