Austal delivers first of two HSSVs to Oman

72 m High Speed Support Vessel (HSSV) RNOV Al Mubshir (S11) during sea trials off Western Australia, March 2016 72 m High Speed Support Vessel (HSSV) RNOV Al Mubshir (S11) during sea trials off Western Australia, March 2016

MAY 20, 2016 —Austal Limited (ASX:ASB) reports that its Henderson, Western Australia, shipyard has delivered the 72 m High Speed Support Vessel (HSSV) RNOV Al Mubshir to the Royal Navy of Oman, on time and on budget.It is the first of two HSSVs ordered by Oman under a US$124.9 million design, construct and integrated logistics support contract.

Austal began construction of the HSSVs at the Henderson yard in August 2014 and the second is scheduled to be delivered later this year, in line with the contract.

The HSSV offers a range of capabilities to support naval operations, including helicopter operations, rapid deployment of military personnel and cargo, and search and rescue operations. The vessels are expected to be deployed with a similar mission to the U.S. Navy's 103 m Expeditionary Fast Transport (EPF) program that Austal builds at its Mobile, AL, shipyard.

Austal Chief Executive Officer David Singleton said delivery of RNOV Al Mubshir on schedule and within budget reflected Austal's international competitiveness and its capability to design, construct and export high-value defense vessels to new markets from its Australia shipyard.

"The HSSV leverages our revolutionary intellectual property and technology in high speed vessels and demonstrate our proven ability as a prime defense contractor to navies across the globe," he said.

"Construction of the second HSSV is progressing well and on track for delivery to the Royal Navy of Oman later this year," he continued. "Meanwhile, the Henderson shipyard is also busy with construction of two further Cape Class Patrol Vessels valued at A$63 million, which will be deployed by the Royal Australian Navy, as well as design work for the recently awarded A$305 million Pacific Patrol Boats Replacement Project."

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