SYDNEY – Australia will spend A$558 million ($366 million) to create a naval nuclear power safety regulator as part of the AUKUS program to acquire conventionally armed nuclear submarines, a government economic update showed on Wednesday.
Australia will buy three nuclear-powered submarines from the United States in the next decade before building a new class of submarine with Britain using U.S. nuclear propulsion technology around 2040 through the AUKUS partnership.
Legislation introduced to parliament last month establishes a regulator to ensure safety for the nuclear-powered submarine program. It does not alter Australia’s moratorium on civil nuclear power, the government said.
The Australian Naval Nuclear Power Safety Regulator will monitor and enforce safety over the next decade, the government said.
The AUKUS partnership to develop nuclear-powered submarines and other high-technology weapons is Australia’s most expensive defense project, with a $244 billion price tag over three decades. — Reuters