Silver Ships, Inc. of Theodore has been awarded an $11 Million contract to build High Speed Maneuvering Surface Targets(HSMST) for the U.S. Navy.
The contract calls for the construction and delivery of up to 160 of the boats.
If all options associated with the contract are exercised the contract would increase to just under $20 Million.
According to the Silver Ships website, they were previously awarded a similar contract to build 100 of the boats in 2013.
That contract was expected to be completed in November 2018 and was initially valued at $11.7 Million with a ceiling of $48 Million.