LONDON (dpa-AFX) - The U.K.'s Ministry of Defence announced a major 9 billion pounds deal with Rolls Royce Holdings plc (RYCEF.PK, RR.L, RYCEY.PK) to enhance support for the Royal Navy's fleet of nuclear submarines. This agreement aims to strengthen national security, foster economic growth, and aligns with the government's Plan for Change.
The Defence department stated that the contract with Rolls-Royce Submarines Ltd, known as 'Unity,' will create over 1,000 new UK jobs and safeguard an additional 4,000 roles. This eight-year agreement will provide long-term stability for a major British business and enhance resilience and capability across the supply chain.
The arrangement will boost efficiency and enable effective risk and opportunity management, with incentives to increase production at no extra cost. Projects under this contract include the construction of Dreadnought Class submarines, among other significant initiatives.
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