Two new contracts for Lockheed Martin totaling almost $4 billion will contribute to business at the company’s Pike County facility, where about 300 people are employed.

Lockheed Martin Missiles and Fire Control has received an $18 million contract from the National Warhead and Energetic Consortium to transition the U.S. Navy’s Long Range Land Attack Projectile. The Pike County operations facility for the company will be performing final assembly of the product.

“This contract enables us to prepare for low-rate initial LRLAP production and maintain a stable level of employment,” said Dave Anderson, site director for Lockheed Martin’s Pike County Operations facility.

Anderson said the local facility is putting tools and test equipment in place to complete the production line for the LRLAP by the end of 2014. About 10,000 square feet of existing facility has been allocated to accommodate the new line, Anderson added.

LRLAP is a 155-mm projectile fired from the Advanced Gun System for the U.S. Navy’s next-generation DDG 1000 destroyer.

In addition to the new LRLAP contract, Lockheed Martin has also received a $3.9 billion contract to deliver the Terminal High Altitude Area Defense weapons system to the Missile Defense Agency and the United Arab Emirates.

“This $3.9 billion contract means we’ll be manufacturing THAAD interceptors here in Troy through at least 2020,” Anderson said. “We began expanding the THAAD production facility at our Pike County Operations facility in 2012 to accommodate an increased rate of production.”

Anderson noted the expanded production facility also will be completed in 2014.