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Australian Government Releases $970 Million Naval Shipbuilding Plan

Friday, May 19th, 2017

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Australian Government Releases $970 Million Naval Shipbuilding Plan

Australia's Prime Minister Malcolm Turnbull. Photo: Australian Government.

The Australian Prime Minister Malcolm Turnbull released Australia’s first Naval Shipbuilding Plan last Tuesday, outlining the country’s largest shipbuilding and sustainment program with $970 million of investments.The funds are set to develop infrastructure in Australia’s shipyards so the government can build its next generation of naval vessels in Australia, the government said. This is intended to “end the boom-bust cycle that has afflicted the industry for many years, providing certainty for local businesses and shipbuilding workers.”Work will begin in 2017 on…

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