21st Mar 2024 11:39
(Alliance News) - Australia on Thursday said BAE Systems Inc would build its fleet of nuclear-powered submarines, a key step in fulfilling the landmark AUKUS security pact between Canberra, London and Washington.
Australia's Submarine Agency said the London-based defence, aerospace and security company would produce the state-of-the-art vessels, which will be delivered from the early 2040s.
The agency did not reveal the exact number of submarines that will be built or financial details of the deal, but Australian defence officials have said the country would get at least five of the SNN-AUKUS class subs at a cost of billions of dollars.
BAE Systems shares were 0.8% higher at 1,347.00 pence each on late Thursday morning in London.
source: AFP
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