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General Dynamics wins $5.1B US Navy contract for submarine design

General Dynamics Corp said Sept. 21 that the U.S. Navy awarded a $5.1 billion contract to General Dynamics Electric Boat for the design completion of the lead Columbia-class submarine.

The company said construction of the submarine is set to begin in the fall of 2020. The Navy plans to build a fleet of 12 new ballistic-missile submarines.

The latest contract, which includes funding for component and technology development, follows a five-year, $1.85 billion award in December 2012 tasking General Dynamics Electric Boat to perform research and development work for the Navy's new class of ballistic-missile submarines.