In Short:
– PM Albanese announced a $12 billion investment to develop Western Australia’s shipbuilding for nuclear submarines under AUKUS.
– The investment will create over 10,000 jobs and support local industries beyond iron ore exports.

Prime Minister Anthony Albanese announced a $12 billion investment to develop Western Australia’s shipbuilding industry, aiming to transform the Henderson shipyard into a facility for constructing and maintaining nuclear-powered submarines under the AUKUS partnership.

It is the largest peacetime defense investment in the region in nearly forty years, reducing dependence on mining exports.The Henderson Defense Precinct will support naval shipbuilding and maintenance for Australia’s future nuclear submarines, enhancing national self-reliance and creating over 10,000 jobs over the next two decades.

International Trade

In parallel, Western Australia Premier Roger Cook is preparing for a trade mission to China and Japan.

The investment signifies efforts to diversify beyond the state’s significant iron ore exports, which total £100 billion annually.

The facility will also facilitate the construction of frigates and landing craft for the Australian Army, boosting local industries.

The Albanese Government has signed a Strategic Shipbuilding Agreement with Austal Defense Shipbuilding Australia Pty Ltd, focusing initially on delivering Landing Craft Medium and Heavy vessels, creating thousands of jobs.