VT Halter Marine getting $78 million contract from U.S. Navy

VT Halter Marine getting $78 million contract from U.S. Navy

PASCAGOULA, MS (The Associated Press) - A Mississippi shipyard is getting a $78 million contract to start building barges for U.S. Navy crews to live aboard when their ships are being repaired or overhauled.

VT Halter Marine was awarded the contract Monday by the U.S. Navy. The Navy has the option to buy four more barges and other services from Halter. If the Navy does, the contract could eventually be worth $244 million.

The announcement says the majority of work will be done at Halter's Pascagoula shipyard. Other work would be done in Mandeville and Metairie, Louisiana; Gautier, Mississippi; Billerica, Massachusetts and Boca Raton, Florida.

Halter beat out Bollinger Shipyards of Lockport, Louisiana, for the deal.

The government of Singapore, through its Temasek Holdings investment firm, owns 53 percent of Singapore Technologies Engineering, which owns Halter.

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