The Australian defense minister on Tuesday announced another $164 million investment in domestic industry to support the supply chain for the future AUKUS nuclear-powered attack submarine.
The Albanese government, the federal executive branch of Australia, specified this covers funding various initiatives focused on about 125 businesses across Australia that will help build and sustain AUKUS submarines.
The announcement included a link for companies to register their interest in participating in these initiatives.
The announcement follows the August AUKUS Naval Nuclear Propulsion Agreement that allows the U.S. to transfer attack submarines to Australia in the 2030s.
“We are continuing to build and invest in an Australian submarine industrial base capable of supporting our future nuclear-powered submarine fleet and underpinning a strong local economy over the coming decades. This new AUKUS agreement now in effect will further bolster the strong continued progress the Australian Government is making with AUKUS partners to deliver Australia this vital capability. This is a further demonstration that AUKUS is happening now,” Deputy Prime Minister and Minister for Defense Richard Marles said in a statement.
Pat Conroy, minister for defense industry and capability delivery, said the government is working in a “targeted way with our AUKUS partners and Australian industry to get Australian products into U.K. and U.S. supply chains. These additional investments by the Albanese Government are further supporting Australian industry by enhancing access, building skills and bolstering commercial opportunities.”
A version of this story was first published by Exchange Monitor affiliate Defense Daily.
