Michael McCord, DOD comptroller and chief financial officer, told reporters that the figure represents a notable increase for military construction spending, including “some very large projects.” President Joe Biden’s budget request for fiscal 2024 includes $2.3 billion for SIOP as part of $16.7 billion for military construction and family housing programs. “This project is a key investment in increasing capacity and modernizing our nation’s public shipyards through upgraded dry docks and facilities, new equipment, and improved workflow,” said Pete Lynch, program executive officer for industrial infrastructure. The project is part of the Navy’s Shipyard Infrastructure Optimization Program, a 20-year, $21-billion plan to modernize infrastructure at Pearl Harbor and other U.S. The contract, incrementally funded with an initial allocation of $463 million, also includes three options that would increase its value to $3.4 billion, if exercised.

Navy officials say the project is planned to take five years.

Hawaiian dredging sister company