VT Group said the deal was part of a proposal jointly made by the company and the government of the United Kingdom to the government of Trinidad and Tobago. The company said the design and building work will generate some 100 new positions at VT Group's Portsmouth Naval Base shipbuilding facility and sustain some 200 more jobs.
The company's chief executive Paul Lester said the program will give additional long term visibility to the order book and is a notable export success of the company.
Lester hoped the production to start in the autumn.
The company has a 400-million-pound agreement with Oman in the Middle East to build three large ocean patrol vessels.
VT Group is now in talks with Britain's BAE Systems on merging the naval shipbuilding facilities of the two companies.