MoD and BVT shipbuilding contract guarantees work until 2024

A Ministry of Defence (MoD) contract has guaranteed work for the shipbuilding industry until 2024.

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The contract, with BVT Surface Fleet, the maritime joint venture between BAE Systems and VT Group, guarantees an annual minimum level of MoD work for the next 15 years, worth around £240m a year. It is intended to help maintain key shipbuilding skills in the UK.

Minister for defence equipment and support Quentin Davies said: “The guarantee of 15 years’ worth of work is especially pleasing to announce in the current economic climate.”