The United States Navy has exercised contract options funding the construction of the eighth and ninth Joint High Speed Vessels (JHSVs).
The contract is valued at US$321.7 million, taking the total value of JHSV work awarded to Austal to approximately US$1.45 billion.
The options increase Austal's total order backlog to nearly $2.2 billion, with shipbuilding work secured for the US operation through to mid-2016 and to mid-2015 for the Australian shipyard.
Austal's chief executive officer, Andrew Bellamy, said the new JHSV contract options contributed to stability and future growth.
“These substantial, multi-year projects provide predictable revenue and workload. That enables us to plan our production approach to deliver high quality, affordable ships in the most efficient way possible and to make and implement medium and long-term strategies,” he said.
“Each new contract award also reflects the US Navy's confidence in Austal and its products.“
Austal also recently christened a second Independence-variant 127 metre Littoral Combat Ship (LCS) for the US Navy.
Austal's other main government prime contract is for the design, construction and in service support of eight Cape Class Patrol Boats for the Australian Customs and Border Protection Service.
Detailed design work is being finalised, with the first boat expected to be delivered in March 2013 and the last in late 2015.
The vessels will be built at the Australian shipyard.