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Babcock JV NSM Wins Around A$1.5 Bln Worth New Australian Defence Contract

Engineering services company Babcock International Group Plc. (BAB.L) announced Monday that Naval Ship Management or NSM, a 50/50 joint venture between Babcock and UGL, has been awarded a new contract by the Australian Defence Force, worth around A$1.5 billion for up to 15 years.

The contract is for an initial five years with the expectation of two further five year extensions. Babcock's share for the initial period is A$250 million.

The partnering agreement, which was won in a competitive process, sees NSM appointed Asset Steward of the largest vessels in the Royal Australian Navy: two flagship Canberra Class Landing Helicopter Docks or LHD and their 12 associated amphibious LHD landing crafts.

The joint venture will begin the work to sustain and support these critical vessels in July 2019.

NSM provides sustainment support to the Royal Australian Navy's fleet of ANZAC class frigates through to the end of their life. Babcock also supports the Australian Defence Force's ground support equipment.

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