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Australia Pledges Extra $3.2 Billion for Nuclear Submarine Development Under AUKUS

Australia has announced an additional investment of $3.2 billion for its nuclear-powered submarine project under the AUKUS alliance.

By Staff Correspondent
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Australia announces fresh $3.2 bn for nuclear subs | International
BSS

Australia has announced an additional investment of $3.2 billion for its nuclear-powered submarine project under the AUKUS alliance with the United States and Britain. This brings the total investment to approximately $250 billion over the next 30 years. The funds will be used to enhance the sovereign capability needed to build, operate, maintain, and sustain the future submarine fleet.

AUKUS Deal and Submarine Fleet

Under the 2021 AUKUS deal, Australia will receive three nuclear-powered submarines from the United States. Initially, Australia expected to receive two used submarines and one new one, but it was announced in May that all three will now be in-service vessels from the US Navy stock. Australia defended this new arrangement as more 'cost-effective'.

Defence Minister's Statement

Defence Minister Richard Marles stated that the additional investment of Aus$4.6 billion (US$3.2 billion) at a shipyard in Osborne in South Australia 'demonstrates that AUKUS is on track and happening now.' He emphasized that this investment is another important step in building the sovereign capability Australia will need for its future submarine fleet.

The AUKUS deal has faced scrutiny over whether slow submarine production rates in the United States and Britain will leave Australia without the vessels it needs. Despite this, the Australian government remains committed to the project, highlighting its strategic importance and long-term benefits.

Source: BSS

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