Australia Naval Shipbuilding Tender

The strong boost to Australias economy from the Coalitions sovereign Naval Shipbuilding Plan has been further confirmed through an Oxford Economics report on the Hunter class future frigate program.Minister for Defence the Hon Christopher Pyne MP said the modelling vindicated the Coalition Governments determination to develop a sovereign naval shipbuilding capability in Australia.The Oxford Economics report emphasises the important role the Hunter class program and the broader naval shipbuilding enterprise play in Australias economic growth and the ongoing development of our skilled workforce Minister Pyne said.The modelling estimates the Hunter class program will contribute 17 billion to the national economy and over 6300 full-time jobs will be generated across Australia at the programs peak in 2028.The Government is investing 90 billion in continuous naval shipbuilding to deliver the critical capabilities the Navy needs for decades into the future to defend the nation and its interests.The Coalitions commitment to building 55 vessels in Australia using Australian steel and Australian workers is also delivering great benefits to the Australian economy.The report states over 500 Australian businesses have been pre-qualified to be part of the Hunter class supply chain.The Australian steel industry will benefit in particular with approximately 48000 tonnes of steel required. As well as the direct contributions to our national economy the Hunter class program will enhance technical knowledge in Australias naval shipbuilding enterprise Minister Pyne said.Australias shipbuilding sovereignty is being guaranteed through the Hunter class program with ASC Shipbuilding constructing the frigates.