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A government document published last week put the budget at £150m, while reports said it could reach £200m.
But Ben Wallace has now given "a firm price" for the "floating embassy" of between £200m and £250m
The defence secretary added: "Subject to working through bids, competition and technology, I aim to commission the ship for between £200m and £250m on a firm price.
"The competition will run until the end of October. I hope to announce the winners in December."