The UK government is planning to invest £4 billion (approximately $5.3 billion) in the country’s regional shipbuilding industry as it prepares to publish refreshed National Shipbuilding Strategy (NSbS).
Prime Minister Boris Johnson announced the $5.3 billion injection into the shipbuilding sector that is expected to create tens of thousands of jobs.
The investment will also support shipyards and suppliers across the UK, delivering a pipeline of more than 150 new naval and civil vessels over the next 30 years.
It has been announced that the Ministry of Defence is getting ready to publish its refreshed NSbS today, 10 March.
The refreshed strategy will outline how the government will support UK shipyards across the nation to upskill workers, create high-quality jobs, drive technology development and ensure UK shipbuilding delivers on next-generation challenges.
Addressing the strategy, Prime Minister said: “The National Shipbuilding Strategy will transform this important and crucial industry, creating jobs, driving technology development and upskilling the shipbuilders of tomorrow, ensuring we are levelling up across every dock, port and shipyard in the UK.”
The strategy also builds on the UK’s support for European defence capability as the Ukraine crisis escalates, the government stated.
To remind, the country’s defence giant Babcock has been selected as Poland’s preferred partner to deliver three new warships based on the UK’s Type 31 design.
As part of the 30-year strategy, a new UK Shipbuilding Skills Taskforce will be established as well as a new Maritime Capability Campaign Office (MCCO).
An important segment of the NSbS Refresh is the £206 million (around $276 million) investment in the UK Shipping Office for Reducing Emissions (UK-SHORE) to match fund research and development in zero-emission vessels and infrastructure.