The contracts were signed with the Finnish Defence Forces Logistics Command in Turku, Finland on 26 September.
According to the €647.6m contract, RMC will design and construct four new multi-purpose corvettes for the Finnish Navy.
RMC’s subsidiary RMC Defence will build the hulls of the four combat vessels.
The Finnish Navy intends to acquire the new Pohjanmaa-class corvettes to replace seven ageing vessels.
The Navy will use the new combat ships to engage in warfare with surface combatants and submarines, taking anti-aircraft measures.
RMC CEO Jyrki Heinimaa said: “The Squadron 2020 project will truly showcase the expertise within the Finnish maritime sector. RMC is proud to be able to support Finland’s naval defence and security of supply together with our extensive partner network.”
The contract signed with Saab is for the supply and integration of the combat system for the four vessels.
The seven-year contract is valued at €412m and will be valid until 2027.
Construction of the corvettes will take place between 2022 and 2025. The vessels are expected to be delivered by 2026 and become fully operational by 2028.
Saab deputy CEO Micael Johansson said: “Saab has a long history in Finland and the Squadron 2020 contract means that we will increase our footprint in and deepen our relationship with Finland for many years to come.”
Saab will supply TactiCall communication system and the Trackfire remote weapon station.
Johansson added: “This is going to be the world’s most modern and advanced corvettes with state of the art technology and capabilities, including the 9LV Combat Management System and the integrated mast, featuring Saab’s sophisticated Sea Giraffe 4A Fixed Face radar and the Sea Giraffe 1X radar.”
According to the contract, the company will perform contracted work in different countries, including Sweden, Finland, Denmark, Australia and South Africa.