GE Energy Power Conversions has revealed that it has snapped up a lucrative supplier contract to help BAE Systems build 13 new Type 26 warships for Britain's Royal Navy.

Speaking to IBTimes TV in London, GE Energy naval director Mark Dannatt also revealed that the massive project will not only potentially create more jobs in the future but it has also allowed the group to maintain hundreds of jobs in its UK base in Rugby, Warwickshire.

Under current plans, BAE will manufacture 13 T26 warships for Britain's Royal Navy from 2016.

The ships are set to be launched in 2020 and will be functioning as part of the Navy until 2060.

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BAE revealed that it has now signed six design development agreements with suppliers of everything from air weapons handling to fire fighting systems.

GE Energy Power Conversion will supply the electric propulsion motor and drive system.

UK suppliers will account for 80% of the programme and go directly back into the economy.

Both Britain's defence sector, which is currently worth £22bn (€27bn, $37bn) and all the supply contracts for the T26 project, so far, costs £7bn.

Dannatt also told IBTimes UK about the significant developments in naval engineering and technology.