Under a $286 million contract, U.S. company General Dynamics will provide yard work along with other technical and logistical support services for the Navy's active nuclear submarines.

General Dynamics will also "provide information services, planning, scheduling and technical support for submarine maintenance and modernization activities, training and facility support, and cost reduction support," the release said.

Officials say if all options are exercised, the announced Navy contract could be worth $1.8 billion over five years.