Saab and OKG cancel nuclear-plant turnkey project

The contract between defence and security company Saab and nuclear-power operator OKG Aktiebolag has been terminated and the parties have reached a financial settlement.

Saab announced on 10 May this year that it had received a letter from OKG Aktiebolag terminating a contract.

This had originally been signed in March 2008 and constituted a turnkey contract, including the installation, delivery and construction of perimeter security at Oskarshamn’s nuclear power plant, with a value of SEK392m (£34m).

Discussions that have been taking place since 10 May between Saab and OKG have now been concluded and the parties have agreed to terminate the commissioned project.