00:02Stepping up the cash and eyeing off plans for a multi-billion dollar shipyard.
00:07We do live in an uncertain world, but we can be certain of the economic benefit to the tune of
00:15$30 billion.
00:17Arguably the most structurally significant contribution to our economy that we will ever see.
00:23The federal funding, just under $4 billion of which will go towards an initial down payment, will be spent expanding
00:30the Osborne shipyard in Adelaide's northwest for the construction of nuclear-powered submarines under the AUKUS Defence Pact with the
00:38US and UK.
00:40Assets that will defend Australia as the objective.
00:43The total floor area of the new shipyard will be 10 times larger than the existing Osborne site, constructed from
00:51126,000 tonnes of structural steel, the equivalent weight of 17 Eiffel Towers.
00:58Transforming this shipyard into one of the world's most advanced submarine construction sites doesn't come without its challenges.
01:04Among them, finding the more than 10,000 skilled workers needed to build the complex machinery.
01:10But both the government and industry have repeatedly insisted the workforce will be ready in time, with construction already underway
01:17on a new training academy.
01:19There will be a thousand apprentices graduating every year from the Skills and Training Centre here.
01:26Local defence companies are also hoping to play a role.
01:30We need the certainty around decisions involving the contracting of local companies into the supply chain.
01:37Ahead of the first nuclear-powered submarine rolling off the production line in the 2040s.
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