ST Engineering said Thursday its shipbuilding business in Pascagoula, Mississippi, in the U.S., has received a second Polar Security Cutter (PSC) contract from the U.S. Department of the Navy.
The U.S. Navy awarded Halter Marine, as the prime contractor, a fixed-price incentive-firm contract for the U.S. Coast Guard PSC, ST Engineering said in a filing to SGX.
The filing said:
“The PSC programme is a multiple year Department of Homeland Security Level 1 investment and a USCG major system initiative to acquire up to three multi-mission PSCs to recapitalise the USCG’s fleet of Polar Security Cutters.
The PSC will fill a current, definitive need for the Coast Guard statutory mission, of Polar Icebreaking, and meet other mission needs in the higher latitudes vital to the economic vitality, scientific inquiry and national interests of the United States.”
ST Engineering didn’t provide pricing for the latest contract, but in 2019, it said that contract could be worth as much as US$1.94 billion.