The Ministry of Defence has awarded Rolls Royce a £1.1 billion contract to produce new reactor cores for the Royal Navy’s nuclear submarines.
The investment – which secures 300 jobs at Rolls Royce - will also be used in an eleven-year refurbishment of the plant at Raynesway in Derby.
The refurbishment will cost around £500m.
A further £600m will be spent on producing new reactor cores for the Astute and Successor Class submarines.
A Rolls-Royce spokesperson has told Central News the firm has no comment on today's reports of new jobs at the company's site in Derby.
The Defence Secretary is expected to make an announcement about the plans next week.