Austal signs $140m contract with mystery buyer

Henderson-based ship-builder Austal Ltd has secured a $140 million contract with an overseas group to build multiple aluminium passenger ferries, with the option of further purchases.

While the shipbuilder is under a strict customer confidentiality agreement, Austal executive chairman John Rothwell told WA Business News the deal was a strong contribution to the company's order book.

"In our yards, both here in Perth and in Mobile, Alabama, we have three quarters of a billion dollars worth of ships under construction," he said.

Due for a staggered delivery in 2007 and early 2008 these fast ferries will be built in Australia and provide the basis for the continuation of current high levels of production.