By Carlo Martuscelli

The U.K. Ministry of Defence has shortlisted BAE Systems PLC (BA.LN), Babcock International Group PLC (BAB.LN) and Atlas Elektronik UK for a 1.25 billion-pound ($1.59 billion) warship-construction project.

The three companies advance to the next stage of the selection process to win the contract to build five frigates, with the victor set to be announced by the end of next year, the government department said on Monday.

The trio have each been awarded GBP5 million to fund the development of the next planning stage, the ministry said.

The winner of the tender will design and manufacture the five warships, and is to deliver the first unit in 2023.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

December 10, 2018 01:44 ET (06:44 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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