MoD £2 Billion in Nuclear Contracts.
Britain’s Ministry of Defence announced this week that over £2 billion worth of defence contracts have been awarded to start the third phase of its submarine nuclear deterrent programme termed ‘Dreadnought’.
London-listed companies, BAE systems (BAES.L) and Rolls-Royce (RR.L), have received the contracts, the MoD said in a statement, adding that the investment was part of a planned £10 billion spend for the whole delivery phase.
The announcement statement reports the contract will see:
- Approx 30,000 jobs supported across the UK across the programme from design to build.
- The delivery of the largest submarines ever built for the Royal Navy
So far, the project has supported around 13,500 jobs in the Northwest of England and a further 16,300 across the rest of the UK.
The first of four submarines will launch from Barrow-in-Furness shipyard to begin sea trials, laying the foundation to sustain the Continuous at Sea Deterrence (CASD) for as long as the international security situation makes it necessary.
This programme is part of the UK Government’s ‘levelling-up’ ambitions, and will also support the training and development of the Royal Navy who will take to the water when HMS Dreadnought enters service in the early 2030s.
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