Pascagoula’s VT Halter Marine has won a $393.7 million contract upgrade to design and build three fast missile crafts for the Egyptian Navy.

CEO Boyd King said Monday that upgrade raises the contract to $642 million.

King says the contract was signed with the U.S. Navy on Friday, and the vessels are to be transferred to the Egyptian Navy once built.

King says the contract upgrade will likely create 30 to 35 jobs once the construction phase begins next November. The first vessel will take 24 months to build, and the second and third vessels will come six months apart after the first delivery.