The National Nuclear Security Administration (NNSA) announced today the Pantex nuclear weapons plant will have a new management contract for at least the next five years at a cost of about $1.5 billion per year.

According to a news release, the new management company, PanTeXas Deterrence, LLC, comprises previous manager BWXT, Flour Federal Services, SOC LLC and the Texas A&M University System.

Three options for renewal could result in a contract period of more than 20 years.

Pantex is the nation’s main nuclear weapons assembly and disassembly plant.

The release states the contract includes a four-month transition period planned to start in mid-July of 2024. Pantex’s current contract with Consolidated Nuclear Security expires on Sept. 30 of this year and will be extended until the transition period is complete.

The NNSA has designed the contract and transition period to minimize the impact on the workers at Pantex