Article Posted on : - Mar 19, 2015

STOCKHOLM (BNS): Swedish Minister of Defence, Peter Hultqvist, has announced an investment of SEK 8.2 billion to build two A26 next generation submarines for the armed forces.

Defence and Security Company, Saab, welcomed the statement made by the minister in Karlskrona, Sweden, on Thursday, that the government intends to give a mandate to the Armed Forces to order two submarines.

Saab has not received any order on production of the new submarine but looks forward to the discussions, which will lead to an agreement and order for A26. This will be a part of an earlier signed Letter of Intent, a Company statement said.

Saab and FMV (The Swedish Defence Material Administration) have signed a Letter of Intent in June 2014 regarding the Swedish Armed Forces' underwater capability for the period 2015-2024. The Letter of Intent comprises support, development, design and production of submarines and other underwater systems.