Australia to invest $850M in cruise missile production

The Australian government has announced it will invest $850 million to manufacture long-range cruise missiles at a plant in Newcastle Airport precinct. 

The announcement was made during a press conference in Canberra on August 22, 2024. According to Pat Conroy, Defense Industry and Capability Delivery Minister, the missiles will enhance the Australian Defense Force’s (ADF) ability “to precisely strike targets at a longer range”. 

“Manufacturing of these missiles represents our investment in Australia’s advanced high-tech manufacturing industry in line with the government’s Made in Australia agenda” Conroy said. “This is about investing in advanced high-tech manufacturing industry and developing our sovereign defence industrial base in areas which have been identified as strategic priorities which, in turn, means we can accelerate capability for the Australian Defence Force.” 

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