Austal secures $245 million for Perth shipyard expansion
The Albanese government loans Austal $245 million. This is the largest National Reconstruction Fund commitment so far.
Austal is Australia's largest shipbuilder. The government gave it a $245 million zero-interest loan.
The money will build a new facility at Perth's Henderson Defence Precinct. The commitment is the largest yet from the National Reconstruction Fund.
The fund was created in 2022 to support Australian manufacturing. Global naval shipbuilding will grow 25 per cent over the next seven years.
Industry Minister Tim Ayres said the investment would protect defence manufacturing at a critical time. Defence Industry Minister Pat Conroy added it would create hundreds of new jobs.
Austal already employs 1,200 people in Australia.
- $245 million
- Loan amount
- 1,200
- Current employees
- 25 per cent over seven years
- Global shipbuilding growth forecast
Why it mattersAustralia needs strong shipbuilding at home as naval demand grows worldwide. This investment keeps defence capability and manufacturing jobs secure for the long term.
AustraliaHundreds of new jobs in Western Australia, boosts the nation's defence shipbuilding capability, and signals government backing for local manufacturing during a global shipbuilding expansion.
✓ Claims checked against the source. checked 3 h ago
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