U.S. Senator Lincoln Chafee’s office was notified that the Department of the Navy has awarded significant additions to defense contracts of the Electric Boat Corporation and Raytheon Company, Integrated Defense Systems. Parts of both contracts will be executed in the Ocean State.
Electric Boat has been awarded an additional $1.5 billion to its submarine contracts for fiscal years 2004-08 to build three new nuclear submarines. Fifteen percent of the additional work will take place at EB’s Quonset Point facility totaling $225.5 million. The work is expected to be complete by 2014, Chafee’s office said in a release.
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Raytheon will receive a $78.7 billion addition to a previous contract. The funds will be used to buy torpedoes and for engineering and repair work through September 2007. Ten percent of the work will take place at Raytheon’s Portsmouth facility,or $787,056 worth of work.
