00:00Australia will soon make a second billion dollar payment to help expand U.S. nuclear submarine shipyards,
00:07according to its Defence Industry Minister Pat Conroy.
00:09The move is part of the Arcus Pact with the U.S. and Britain,
00:13under which both countries will help Australia acquire nuclear-powered submarines.
00:19Conroy stressed that Australia is shifting towards co-developing and co-producing defence technologies with the U.S.
00:26In the first phase of the Arcus deal, Australia pledged US$3 billion to boost U.S. submarine production,
00:33paving the way for the eventual purchase of three Virginia-class submarines.
00:38The first US$2 billion payment is due by 2025, and Australia has so far paid over US$1 billion.
00:46Australian government estimates the cost of the submarine program to reach up to US$237 billion over the next 30 years.
00:54The Arcus Defence Partnership will be a key focus in Prime Minister Antony Albanese's visit to Washington next week,
01:01his first official meeting with President Donald Trump.
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