Spanish defence shipbuilding company Navantia has been awarded a contract for engine maintenance on the surface ships and submarines of the Spanish Navy.
Navantia said the agreement is firm until 2023 and will yield annual revenues of around €25 million (US$29.6 million).
The company has also been awarded a two-year contract for drydocking services. The contract has a total value of €45 million (US$53.3 million) and also includes options to extend by two additional years.
Under the maintenance contract, Navantia must be ready within 72 hours to provide the necessary support to Spanish Navy vessels anywhere in the world.
