Australia to spend $2.8 billion on new facility to build nuclear subs under AUKUS: PM Anthony Albanese

Synopsis

Australia has announced AU$3.9 billion ($2.8 billion) in initial funding to build a new facility for constructing nuclear-powered submarines under the AUKUS security pact with the United States and Britain. Prime Minister Anthony Albanese said the investment in the Submarine Construction Yard at Osborne is key to delivering conventionally armed, nuclear-powered submarines for the country.