Huntington Ingalls Industries announced Friday it has received a $727 million advanced procurement contract modification from General Dynamics Electric Boat for Virginia-class Block V submarines.
The award brings the contract's total value to $1.04 billion, according to a company statement.
The additional advanced procurement funds will allow HII “to continue procuring long-lead-time materials,” said Dave Bolcar, Newport News’ vice president of submarine construction. “The start of early manufactured material is already underway for Block V submarines.”
The Block V subs will be the first to incorporate the Virginia Payload Module, which is “an 84-foot hull section with four additional payload tubes, each capable of carrying seven Tomahawk cruise missiles,” according to Navy budget justification documents.
The service is expected to award its fourth multiyear procurement contract for Virginia-class attack submarines this month, according to budget documents.