The first award, for Torpedo 62 upgrading, involves enhanced functions for communication and warhead initiation.
The Torpedo 62 is an advanced heavy torpedo and features advanced high-speed propulsion and a state-of- the-art homing system.
"The Torpedo 62 system will, as a result of this order, be upgraded with new functionality and gain increased capability," said Tomas Samuelsson, head of the company's Dynamics business area. "I feel satisfied to report yet another order from one of the market's most demanding customers."
Deliveries of the enhanced torpedoes will begin next year and be completed in 2016.
Saab also reported that its German partner, DBD, has ordered RBS15 MK3 surface-to-surface missiles. The country for which the missiles are destined wasn't disclosed.
The RBS15 Mk3, jointly produced and marketed by Saab and DBD, is a heavy missile with a range of more than 124 miles.
Germany, Poland and Sweden operate the missile system.