SYDNEY -- Australia will send $4.6 billion Australian dollars ($3 billion) to the U.K. to facilitate the building of nuclear-powered AUKUS submarines as part of the tripartite effort with the U.S. to counter China's rise in the region.
Defense
Australia to funnel $3bn to U.K. for AUKUS sub reactors, designs
BAE Systems to build the vessels in Adelaide's Osborne shipyard
Australia's Deputy Prime Minister Richard Marles, and U.K. Defence Secretary Grant Shapps sign a new defence and security cooperation agreement at Parliament House in Canberra on March 21. © Jay Cronan/Australian Government Department of Defence
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