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Anduril to invest $3.7 billion in new U.S. shipyard
U.S. President Donald Trump announced that Anduril will invest $3.7 billion in a new shipyard to be built in the Sparrows Point area of Maryland. The U.S. Navy will contribute $2.9 billion to the project, while future purchases could reach $21 billion and taxpayers will own a 40% stake in the facility.
U.S. President Donald Trump, who announced that Anduril will invest $3.7 billion in a new shipyard to be built in Maryland’s Sparrows Point area, described the project as a significant gain for the city of Baltimore.
Trump said the facility, which will be named Arsenal-2, would be the largest new shipyard built in the United States since World War II.
Submarines and critical components to be produced
Trump said next-generation U.S. submarines would be built at Sparrows Point and announced that the facility would also produce autonomous submarines, torpedo tubes and critical components for Virginia-class attack submarines.
Trump said the U.S. Navy would contribute $2.9 billion to the project and noted that future purchases from the shipyard could reach $21 billion. He also said U.S. taxpayers would own a 40% stake in the new shipyard.
U.S. defense budget to rise to $1.5 trillion
Trump also said the U.S. defense budget would be increased to $1.5 trillion this year. Trump, who had previously said the budget had exceeded the $1 trillion threshold, said the new budget would reach $1.5 trillion.
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