Stockholm: Swedish defence company Saab has won an order worth around $536.4 million to modernise the German navy’s F123 frigates, it said.

Saab said the contract included a new combat management system, while deliveries and other services would be carried out between 2021 and 2030. It added that it would be the prime contractor and would engage German shipyard Abeking & Rasmussen for the shipbuilding.

“This contract will further strengthen our relationship with Germany for many years to come,” Saab Chief Executive Micael Johansson said in a statement.

Saab, maker of the Gripen fighter jet, added that it would carry out the work in Germany, Sweden and Australia.