Australia pledges $2.7 billion to progress nuclear submarine shipyard build

Australia said on Sunday it would spend A$3.9 billion ($2.76 billion) to progress construction of a shipyard that will help deliver nuclear-powered submarines under the trilateral AUKUS defence pact with the U.S. and Britain.
Announced in 2021, AUKUS is Australia’s largest-ever defence investment and will see U.S.-commanded Virginia-class submarines based in Australia from 2027, several Virginia submarines sold to Australia from around 2030, and Britain and Australia building a new class of AUKUS nuclear-powered submarine.
Australian Prime Minister Anthony Albanese described the A$3.9 billion as a down payment to deliver the new shipyard in Osborne, a suburb of Adelaide in South Australia state.
“Investing in the submarine construction yard at Osborne is critical to delivering Australia’s conventionally-armed, nuclear-powered submarines,” Albanese said in a statement.
Official projections put the total cost of the build at A$30 billion “over coming decades”, he said.