Market
Will Rolls-Royce achieve £400 million savings over the 8-year contract?
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Financial reports from Rolls-Royce or UK Ministry of Defence announcements
Story
Rolls-Royce Secures £9 Billion, 8-Year Deal to Power UK's Nuclear Submarines, Boosting Jobs
Jan 24, 2025, 06:49 AM
Rolls-Royce has secured a £9 billion contract from the UK Ministry of Defence (MoD) to design, manufacture, and support nuclear reactors for the Royal Navy's submarine fleet. The eight-year Unity contract, the largest ever between Rolls-Royce and the MoD, aims to streamline previous contracts, enhance efficiency, and is expected to create 1,000 new jobs while safeguarding 4,000 existing positions. The contract will support the current submarine fleet and contribute to the development of the new Dreadnought Class submarines and the SSN-AUKUS program. Defence Secretary John Healey highlighted the deal as a boost to British business, jobs, and national security, aligning with the government's commitment to the nuclear deterrent and economic growth, and anticipates savings of £400 million over the contract's duration.
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