Austal signs $223m ferry contract

Henderson-based ship-builder Austal Ltd has signed a $223 million contract for the construction of four vehicle-passenger ferries, which the company says is its largest individual contract to date.

The full text of a company announcement is pasted below

An unconditional contract has been confirmed for the supply of four fast ferries, consisting of two 69 metre and two 88 metre Austal Auto Express vehicle-passenger catamaran designs.

The value of this order is approximately $223 million representing Austal's largest individual contract to date.

Further contract information at this time is restricted due to a customer confidentiality agreement.

Commenting on the announcement Austal Executive Chairman, John Rothwell said; "This huge contract is of particular importance, not only in adding to our current strong order book but also as it confirms our presence in a region with substantial growth opportunities for Austal'.

Due for delivery in 2009 these fast ferries will be built in Australia.