A26 submarine - credits : Saab-Kockums
March 20, 2015 By Gerard O'Dwyer – Defense News
HELSINKI — The Swedish government's approval of $700 million in new funding to bolster naval capacity forms part of a wide-ranging capital investment plan to significantly advance the military's surface warship presence in the Baltic Sea and submarine hunting capabilities.
The special funding is intended to be used by the Navy for core investment programs in 2016-2020.
In its funding proposal, the Armed Forces Command (AFC), envisaged a more expansive naval-strengthening plan costing up to $2 billion. The government's response has been to announce the purchase of two new A26-class submarines. The capital budget earmarked for the A26-class submarine acquisition amounts to $950 million.
Saab-Kockums, which signed in June 2014 a letter of intent covering the A26's design and development, is expected to secure the contract and deliver the two submarines by 2022.
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