Australia's Billion-Dollar Boost for U.S. Nuclear Submarine Yards

Australia will make a second billion-dollar payment to support U.S. nuclear submarine shipyards. Under the AUKUS agreement, Australia and the U.S. enhance defense collaborations, eyeing co-production of weapons. Prime Minister Albanese's visit to Washington aims to further solidify military partnerships and joint production initiatives.

Australia is set to inject a second billion-dollar payment into U.S. nuclear submarine shipyards, a move detailed by Defence Industry Minister Pat Conroy during his Washington visit. This funding is part of the AUKUS agreement that involves the United States and Britain, focusing on transferring nuclear-powered submarines to Australia.

Prime Minister Anthony Albanese is poised for an official trip to Washington, the centerpiece of which will be his meeting with U.S. President Donald Trump to discuss the AUKUS defense partnership. Meanwhile, the Australian government is contributing to the Pentagon's review of the agreement and is confident in its progression, despite not having disclosed a completion timeline.

As part of shifting towards a co-production defense model, Australia plans to manufacture thousands of guided missiles annually. Facilities are geared to commence production by the year's end, catering to U.S. defense needs as well. Australia's efforts with Lockheed Martin in developing a prolonged-range Precision Strike Missile underscore the depth of the collaboration.

(With inputs from agencies.)