Rolls Royce agrees $1.3 billion nuclear contract with MoD
LONDON (Reuters) - Aero engineer Rolls-Royce (RR.L) has agreed a new ten year contract with the Ministry of Defence (MoD) which will help the department save up to 200 million pounds and sustain up to 2000 jobs in the UK.
The company said on Wednesday that the new contract, which is worth around 800 million pounds, would help deliver cost savings around the provision of nuclear propulsion systems for Britain's existing and future submarine flotilla.
Rolls-Royce said the deal reinforces Britain's commitment to the submarine programme.
Britain's 2010 Strategic Defence and Security Review (SDSR) set the course for future UK defence spending, in which the government said it would cut spending by 8 percent up to 2015.
The government has been trying to bring order to a defence ministry widely lambasted by watchdogs and others for its chaotic and expensive weapons programmes.
(Reporting by Brenda Goh; editing by Rhys Jones)
- Tweet this
- Share this
- Digg this
- UPDATE 3-Tennis-Monte Carlo Masters men's singles quarterfinals results
- Vice-principal of South Korea school in ferry disaster commits suicide |
- Pope Good Friday service underscores plight of the suffering
- Special Report - How the U.S. made its Putin problem worse
- Bodies found trapped inside sunken South Korean ferry - coastguard |