Gerald Vernon-Jackson, Leader of Portsmouth City Council, says the deal between BAE systems and the MOD is good news for Portsmouth. It's expected to be signed next week saving around 100 engineering jobs at the city's dockyards.
It's been reported this morning that BAE systems is on the verge of signing a £70 million deal which would safeguard 100 jobs at the dockyards in Portsmouth. Defence Secretary Philip Hammond is said to have confirmed that the contract could be signed next week.
Mr Hammond told a local newspaper that the engineering jobs would be sustained for two and a half years while work is carried out on the Navy's newest destroyers. More contracts could follow.
In November last year BAE systems announced that it would be closing its ship-building division in Portsmouth with the loss of around 900 jobs. However the company's maintenance division will remain in operation and this latest announcement will be welcome news.
It was a triumph of engineering - bringing Henry the Eight's flagship Mary Rose to the surface 30 years ago. Protecting her since then has pushed technology to the limit
Now she's at the forefront of science again - a new museum being built to house her will be one of the most advanced in the world. Richard Jones reports on the Mary Rose - the past and future.
It's thirty years since the Mary Rose was raised from the bottom of the Solent.
The Tudor warship was rediscovered in 1971 and was salvaged in 1982 in one of the most complex and expensive projects in the history of maritime archaeology.
Millions watched on television as the 437 year old wreck was raised from the deep.