Australia to invest additional A$11.1 billion over next decade in defence


SYDNEY (Reuters) – Australia said on Tuesday it would inject an additional A$11.1 billion ($7.25 billion) over the next decade in defence for the accelerated delivery of the navy’s future surface combatant fleet and to expand the country’s shipbuilding industry.

This additional funding for the future surface fleet brings both acquisition and sustainment investment in the fleet to A$54.2 billion in total over the next decade, Defence Minister Richard Marles said in a statement.

“The enhanced lethality surface combatant fleet will ensure the navy is optimised for operations in our current and future environment,” Marles said.

($1 = 1.5314 Australian dollars)

(Reporting by Renju Jose in Sydney; Editing by Chris Reese)

Read original article here

Denial of responsibility! Genx Newz is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment