THE VIRGINIAN-PILOT  
              Copyright (c) 1995, Landmark Communications, Inc.

DATE: Tuesday, March 21, 1995                TAG: 9503210407
SECTION: BUSINESS                 PAGE: D1   EDITION: FINAL 
SOURCE: (Staff report)
        
                                             LENGTH: Short :   22 lines

PERSIAN GULF SHIPYARD AWARDED FIRST CONTRACT

The shipyard that Newport News Shipbuilding took over and is modernizing in the United Arab Emirates won its first contract Monday. The giant Peninsula shipyard is a minority investor in Abu Dhabi Ship Building, which is mostly owned by investors in the tiny, oil-rich Persian Gulf state. The contract is for the overhaul of six vessels in the U.A.E. Navy. It's unclear what kind of vessels will be overhauled. The value of the contract was not disclosed, but work will start this summer and last three years. Newport News is competing for a contract to build up to eight fast frigates for the U.A.E. by CNB