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BAE Systems plc has partnered with the U.K. government for an eight-year, $500 million project to upgrade a shipyard in northwest England that is home to construction of nuclear submarines, Bloomberg reported Thursday.
Thomas Penny writes the project involves extending the Devonshire Dock Hall facility, construction two new buildings and refurbishing other buildings such as a storage site.
“Redevelopment of the site is fundamental to the future of our business,” said Tony Johns, managing director of BAE Systems Maritime’s submarines unit, according to the report.
Philip Hammond, U.K. defense secretary, said there are 6,000 existing jobs in the Barrow shipyard, according to the report.
