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

Australia said it will spend AU$3.9 billion ($2.8 billion) as a “down payment” on a new facility to build nuclear submarines under the tripartite AUKUS security agreement signed with Britain and the United States on Sunday.

“Investing in the Submarine Construction Yard at Osborne is critical to the delivery of Australia’s conventionally armed, nuclear-powered submarines,” Prime Minister Anthony Albanese said in a statement. he said.

The AUKUS pact aims to arm Australia with a fleet of state-of-the-art submarines from the US and will provide cooperation in the development of a range of warfare technologies.