Washington | The five nuclear-powered submarines America plans to sell to Australia from the 2030s will not be newly built but rebadged existing Virginia class models with price tags to be determined by the US State Department, officials said.
Australia will also make a substantial financial investment in American shipbuilding yards to help lift the capacity of new Virginia class production for the US Navy to help fill the void left from selling existing versions of the submarines to Australia, the US official said.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
