Rolls-Royce Holding PLC (LON:RR) has landed a £235mln contract to maintain a nuclear engines of the UK’s fleet of submarines, defence secretary Gavin Williamson has confirmed.
Under the deal, the company will provide support, advice and material to the propulsion systems on board Vanguard, Trafalgar and Astute class submarines until 2022.
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The deal will secure about 500 jobs, mostly in Derby.
Williamson, who announced the deal while visiting the Rolls-Royce Raynesway plant in Derby, also said the third of the new generation Trident submarines will be called HMS Warspite, named the last "great ship" built under the reign of Queen Elizabeth I.
HMS Warspite will join Dreadnought, Valiant and an as-yet-unnamed vessel as part of a frontline nuclear deterrent system.
"This year we mark half-a-century since British nuclear-armed submarines began their continuous patrol of waters around the world," Williamson said.
“This significant milestone for the Royal Navy would not be possible without the skills and ingenuity of our industry partners who supply and maintain equipment.
“Rolls-Royce plays a critical role in supporting our submarines and I’m pleased this contract will sustain 500 highly-skilled jobs that help protect our country.”
Last year the Ministry of Defence (MoD) said £400mln of funding would be provided for the £31bn Dreadnaught programme. The programme will see a new class of submarines enter service in the 2030s.