Join our daily newsletter At The Bell to receive exclusive market insights
- Austal (ASB) has delivered the sixth guardian-class patrol boat (GCPB) successfully to the Australian Department of Defence
- The vessel, RFNS Savenaca, was gifted by the Government of Australia to the Government of Fiji during the handover ceremony
- The GCPB will help the Fiji Navy carry out border patrols, regional policing, search and rescue and many other operations domestically and internationally
- On market close, Austal is down 5.31 per cent and is trading at $3.21 per share
Austal (ASB) has delivered the sixth guardian-class patrol boat (GCPB) successfully to the Australian Department of Defence.
The vessel, RFNS Savenaca, was gifted today by the Government of Australia to the Government of Fiji during the handover ceremony at Austal Australia’s Henderson shipyard.
Chief Executive David Singleton said the first Guardian-class Patrol Boat delivery for 2020 showed it is keeping with its goal of delivering a new naval vessel every 3 months.
“Now in the third year of production, the Pacific Patrol Boat Replacement Project has really hit its stride, with this sixth Guardian-class Patrol Boat benefiting from a number of innovative production processes that have reduced production time, while maintaining quality,” David said.
“Our warmest congratulations go to Prime Minister Bainimarama, the Commander of the Republic of Fiji Military Forces, Rear Admiral Viliame Naupoto and the Chief of Navy Captain Humphrey Tawake on the handover of this impressive new ship, the RFNS Savenaca,” he added.
The GCPB is able to help the Fiji Navy carry out border patrols, regional policing, search and rescue and many other operations domestically and internationally.
In May 2016, the Pacific Patrol Boat Replacement Project was awarded to Austal, with an additional contract awarded in April 2018, taking the program to 21 vessels valued more than $335 million.
Twelve Pacific Island nations including Papua New Guinea, Fiji, the Federated States of Micronesia, Tonga, Solomon Islands, Cook Islands, Kiribati, Marshall Islands, Palau, Samoa, Tuvalu, Vanuatu and Timor Leste will receive the vessels through to 2023.
“Austal Australia’s delivery of the Pacific Patrol Boat Replacement Project is achieving 68.5 per cent of Australian Industry Content, which is outstanding for a project of this size and complexity,” David explained
“Austal, and our valued suppliers, contractors and business partners are adding real value to Australian industry and contributing to genuine sovereign shipbuilding capability,” he said.
On market close, Austal is down 5.31 per cent and is trading at $3.21 per share.
