Where is Australia's nuclear submarine and AU$10B spend headed?

3 min read | March 08, 2022 01:17 PM AEDT | By Sukriti Nair

Highlights

  • Australia to squeeze timelines for its nuclear submarines with more updates in coming months.
  • PM estimates an AU$10 billion spend for the new submarine base in the Australian east coast.
  • The project timeline anticipated the first submarine in water only by 2040.

The latest buzz in the Australian defence space is on location of Australia’s much talked about nuclear submarine base. Australia is reportedly making itself more secure with a plan to build a fleet of nuclear-powered submarines with its AUKUS allies. The recent talks are revolving around the location and spend estimate for a nuclear submarine base, to be set up probably in the Australian east coast.

Defence minister Dutton’s recent stance on nuclear submarines

Australian defence minister Peter Dutton has reportedly said that Australia could acquire its nuclear submarines much before the anticipated 2040 timeline. Sparking controversy, he stated that the design and construct details could be expected in a few months and possible ‘before’ elections. While in Dutton’s opinion, the fast pacing was happening to secure Australia in response to the rumours of a possible attack by China on Taiwan.

The opposing party leaders are naming it as a political stunt in response to a ‘hypothetical’ situation and an attempt to hide the delayed work on nuclear submarines. However, on Sunday, the defence minister revealed that the government was merely going to bring forward its decision on choosing British or American nuclear submarines and it did not mean an announcement before the election. He only confirmed ‘a lot of’ progress on the submarine project which is as of now looking at a probable new base in the east coast by 2023 and the first sub in water by 2040.

Nuclear powered submarine traveling underwater

Image Source © Ostapenkoolena | Megapixl.com

PM Morrison’s take on Australia’s nuclear-powered submarines

In a recent speech at the Lowy Institute, PM Morrison added on to Dutton’s revelations, stating that the government had already reviewed around 19 potential sites to set up a new nuclear submarine base. PM even gave a spend estimate of an AU$10 billion for the base which is to be set up in the Australian east coast.

As per reports, Sydney was named as a preferred location for the east coast base, however, now even the Newcastle port is an emerging contender. While Newcastle port is famous for its coal export shipping, the Sydney port is in an Australian city already having a nuclear reactor.

Do Watch- Will Australia and Japan's military treaty emerge as a threat to China? 

Bottom line 

Australia has been talking about these on nuclear powered submarines since 2009. Last year the AUKUS alliance made the Morrison government choose US and UK over France for the submarine contracts. While Australia still expects the waterborne defence equips to be ready by only 2040, the upcoming elections and a rumoured possibility of China attacking Taiwan is probably squeezing the action timeline on it.

More on Australia’s Defence- Australia beefs up its army, inks AU$1 billion deal with S Korea


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.