Bloomberg News

U.K. to Sign Contract to Refit Royal Navy Nuclear Submarine

March 25, 2012

The U.K. will sign a 350 million- pound ($555 million) contract to refit and refuel one of the Royal Navy’s nuclear deterrent submarines, the Ministry of Defence said.

Defence Secretary Philip Hammond will announce the three- and-a-half year contract to refit and refuel HMS Vengeance, sustaining 2,000 jobs, at a visit to Devonport Dockyard in Plymouth today, the ministry said in an e-mailed statement.

“As well as securing 2,000 U.K. jobs, this contract will ensure the nuclear deterrent submarine fleet can continue to operate safely and effectively to maintain a continuous at sea deterrent,” Hammond will say, according to prepared remarks released by his office. “As we stabilise the defence budget we are increasingly able to commit to equipment projects to safeguard the U.K.’s national security.”

To contact the reporter on this story: Svenja O’Donnell in London at sodonnell@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus