Australia is set to spend 1 billion Australian dollars ($773.7 million) on the development of the newest naval weapons, including long-range missiles and torpedoes, the country's Department of Defense said on Monday
MOSCOW (Pakistan Point News / Sputnik - 25th January, 2021) Australia is set to spend 1 billion Australian Dollars ($773.7 million) on the development of the newest naval weapons, including long-range missiles and torpedoes, the country's Department of Defense said on Monday.
"The [Prime Minister Scott] Morrison Government will invest $1 billion to commence the early development of advanced guided weapons to enhance Australia's maritime security. This significant commitment will modernise the Navy's platforms to project and maintain sea control," the government said in a statement.
It added that the project would provide the Australian navy with cutting-edge long-range anti-ship missiles, extended range surface-to-air missiles, advanced lightweight torpedoes and maritime land strike capabilities.
"These new capabilities will provide a strong, credible deterrent that will ensure stability and security in the region. The planned acquisitions - when aligned with the ongoing state-of-the-art combat system development and National shipbuilding programs - represent an investment of up to $24 billion, which will build a lethal and highly responsive Navy for decades to come," Defense Minister Linda Reynolds said, as cited in the statement.
The latest investment is part of the existing $183 billion Naval Shipbuilding Plan, which envisages the building of 23 classes of vessels, as well as the creation of jobs and opportunities for the Australian industry.
