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Tuesday, February 14, 2012

Navy Discloses $811 Million Overrun on Gerald Ford Carrier

USS Gerald R. Ford (CVN-78)The cost of the aircraft carrier Gerald R. Ford has increased by $811 million, or about 16 percent, over its $5.16 billion target price, the Navy said.

The overrun, up from the $650 million acknowledged in April, was disclosed today in a Navy document highlighting the service’s share of the Defense Department’s fiscal 2013 plan.

The Navy documents indicate the service estimates a worst-case overrun of as much as $1.1 billion.

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