BWX technologies wins $1.5 billion US nuclear contract

BWX Technologies announced on September 17 that it has been awarded a $1.5 billion contract from the U.S. National Nuclear Security Administration (NNSA) to develop domestic uranium enrichment capabilities for defense purposes.

The NNSA, a semi-autonomous agency within the Department of Energy, said the project is aimed at securing a reliable supply of low-enriched uranium for tritium production and highly enriched uranium for use in naval nuclear propulsion. The new production facility will be based in Erwin, Tennessee, Caliber.Az reporrts via Reuters.

The latest deal follows a $2.6 billion order BWX received in July to manufacture components for U.S. Navy nuclear submarines and an aircraft carrier.

Shares of BWX rose 1.4% in after-hours trading following the announcement.

By Sabina Mammadli