The Pentagon and Coast Guard awarded a $745 million contract yesterday to VT Halter Marine for the detail design and construction of the highly anticipated Polar Security Cutter, according to a Defense Department statement.
If all options are exercised, the contract's value will reach approximately $1.9 billion. Work for the base contract is expected to be completed by June 2024, or by November 2027 if all options are exercised. The contract's options are for the construction of two additional ships, according to a statement from Naval Sea Systems Command.
VT Halter Marine, which is based in Pascagoula, MS, is the shipbuilding arm of Singapore Technologies Engineering.
"VT Halter Marine was involved in the design analysis study of the PSC since February 2017 and is currently in the production engineering studies support work since February 2019, a company statement reads.
Multiple lawmakers from Mississippi, including Sens. Roger Wicker (R) and Cindy Hyde-Smith (R) and Rep. Steven Palazzo (R), applauded the contract's award in a statement today and noted the creation of 450 new jobs in their state as a result.