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Contract towards Scandinavian submarine project signed for $50 million.

A contract for the participation in Project definition Phase 1 of the joint Scandinavian submarine project VIKING, with an estimated value of $50 million, have been signed between Kongsberg Defence & Aerospace and Viking Submarine Corporation AB. This agreement is included in the $145 million contract signed earlier between the Norwegian Defence Logistics Organisation (Forsvarets Logistikkorganisasjon), Swedish Defence Material Administration (Försvarerets materielverk), Danish Marine Logistics Organisation (Søværnets Materielkommando) and Viking Submarine Corporation AB. The goal with Project definition Phase 1, is to work out solutions that can lay the groundwork for future decisions in making joint efforts in supplying submarines to the respective nations. Phase 1 is contracted for two different phases, the first scheduled to be finished within one year.