Poland locks in multi-billion-dollar submarine deal with Sweden's Saab

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Sweden's Saab said on Monday it had signed a SEK47 billion ($4.83 billion) contract with Poland for three A26-type submarines.

Saab said in a statement the contract also includes a weapon package and a training and support package with final deliveries scheduled for 2038.

Poland announced last year that it had chosen Saab to supply it with three submarines, in a multi-billion-dollar deal that forms a key element of Warsaw's efforts to bolster its defences in the Baltic Sea.

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In January, Saab CEO Micael Johansson said the company had taken investments to be able to produce sections of the new submarines in more than one location.

"Sweden and Poland have successfully concluded negotiations on Poland's acquisition of three A26 submarines from Saab," the Swedish government said in a separate statement.

"The agreement is a significant step in strengthening Poland's naval capabilities and at the same time contributes to Sweden and Poland deepening their security and industrial policy cooperation," it said.

(Reporting by Anna Ringstrom and Johan Ahlander, editing by Essi Lehto)

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