Gas Oil

UK to invest $5.2bn to build 150 naval, civil vessels

The UK Prime Minister Boris Johnson on Thursday announced a 4 billion pounds ($5.2 billion) investment into the United Kingdom’s shipbuilding industry.

According to Downing Street, the investment would create thousands of jobs and deliver more than 150 new naval and civil vessels over the next 30 years.

Johnson in a visit to a dockyard in Merseyside, North West England, said shipbuilding has been in our blood for centuries and I want to ensure it remains at the heart of British industry of generations to come.

The Ministry of Defence was set to publish its refreshed National Shipbuilding Strategy, which according to the statement would also “build upon the UK’s increased support for European defence capability in the face of rising Russian aggression.

UK defence giant Babcock has been chosen as Poland’s preferred partner to deliver three new warships based on the UK’s Type 31 design.

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