Austal achieves Pacific Patrol Boat program milestone

Austal's Pacific Patrol Boat Replacement Project is on schedule, with Detailed Design Review (DDR) completed on time and in accordance with the contract. Construction of the 19 steel vessels is due to commence, on schedule, in April 2017 Austal's Pacific Patrol Boat Replacement Project is on schedule, with Detailed Design Review (DDR) completed on time and in accordance with the contract. Construction of the 19 steel vessels is due to commence, on schedule, in April 2017 Austal

FEBRUARY 24, 2017 — Austal (ASX:ASB) reports that the Detailed Design Review (DDR) for the A$306 million Pacific Patrol Boat Replacement (PPB-R) Project has been successfully completed on time and in accordance with the contracted schedule.

The PPB-R Project calls for the design, construction, delivery, training and sustainment of nineteen 40 m patrol boats - to be provided by the Commonwealth of Australia to twelve Pacific Island nations as part of Australia's new Pacific Maritime Security Program

The project plays an important role in Australia's naval shipbuilding strategy, building capacity in the lead up to the Offshore Patrol Vessel and Future Frigate programs for the Royal Australian Navy, due to commence in 2018 and 2020, respectively.

The completion of the DDR, on time, formally signifies the end of the design phase and the commencement of the production phase of the nineteen steel vessel program, awarded to Austal in May 2016.

DDR is a key, mandated milestone in the Commonwealth's ASDEFCON contracting process and the PPB-R detailed design confirmation which will enable the product baseline to be established.

Announcing the milestone, Austal's PPB-R Project Manager Matthew Klingberg highlighted the effective working relationship between Austal and the Commonwealth on the PPB-R Project.

"Achieving DDR on a Commonwealth shipbuilding project is a significant milestone, particularly as this was achieved within 8 months from the Contract Effective Date. This was made possible by the dedicated efforts of both the Austal and Commonwealth teams, working together in an open and collaborative manner," Klingberg said.

Construction of the Austal design will commence in Western Australia in April 2017, with deliveries scheduled from 2018 to 2023. Sustainment of the new fleet of vessels will be carried out by Austal from facilities in Cairns, Queensland.

Austal is positioned to play a key role in the delivery of the Commonwealth's continuous naval shipbuilding strategy, as the only ASX-listed Australian shipbuilder and defense prime contractor currently delivering multiple naval vessel programs for Australian and overseas customers, including the Royal Australian Navy and U.S. Navy.

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