Today is an historic day for South Australia.
The Turnbull Government has announced that South Australian shipbuilders will construct 12 cutting edge submarines in a $50 billion project, using Australian steel and creating 2,800 jobs.
South Australian shipbuilder ASC will partner with French company DCNS to design and manufacture a fleet of Shortfin Barracuda class submarines in Adelaide to replace the outgoing Collins class fleet.
The new submarine fleet is the biggest Defence procurement project undertaken in Australian history and it will be built right here in South Australia. This is an historical day not just for South Australian shipbuilders but for an entire state.
The Shortfin Barracuda submarine will provide the Royal Australian Navy with a world-class conventional submarine capability, it will provide the highest value for taxpayers and it will maximise the benefit for South Australian industry.
Australia now has a fully fledged continuous naval shipbuilding industry with enough work on its books to create jobs for generations.
It is the last piece of the defence puzzle for South Australia which also includes Air Warfare Destroyers (2016-17), the Offshore Patrol Vessels (2018-19) and Future Frigates from 2020. This announcement represents more than $89 billion investment in our future safety and security and will be transformational for not only the South Australian economy but the national economy by supporting 2,800 jobs and providing employment and growth across many sectors.
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