UK’s Defence Secretary Michael Fallon on March 3 announced additional £642 (approx. $907.2M) million of investment for the Successor submarine programme.
New parts and facilities, as well as further design work will be funded by the latest investment which will help to progress work on the four new submarines that will begin replacing the Vanguard class, from the 2030s.
The investment will include £225 million of investment for new facilities, at BAE Systems at Barrow-in-Furness, where the submarines will be assembled.
The funding will also see significant investment in the UK/US collaboration for the Common Missile Compartment and around £200 million for the submarine’s power plant, including long lead items. General Dynamics’ Electric Boat is the designer of the missile compartment under a contract awarded by the U.S. Navy in December 2008.
Defence Secretary Michael Fallon said: “Our nuclear deterrent provides the ultimate guarantee of our security and our way of life. That’s why we are getting on with this investment. This money will support further design work, new infrastructure and the purchase of key parts such as engines and gearboxes, as well as jobs across the UK.”
This investment of £642 million brings the total cost of the Assessment phase to £3.9 billion.