US President Donald Trump on Tuesday announced plans to build the largest new shipyard in the United States since World War II at Sparrows Point in Maryland.
The mega-project involves a USD 3.7 billion investment by defense technology firm Anduril and a USD 2.9 billion contribution from the US Navy, bringing total public-private funding to USD 6.6 billion. The project is aimed at revitalizing the US naval defense industrial base.
Speaking during the announcement, Trump described the initiative as a major turnaround for US defense manufacturing, particularly as shipbuilding schedules have extended to between seven and 15 years per vessel in recent decades.
Under the agreement, US taxpayers will receive a 40 percent equity stake in the new shipyard, providing a public return and long-term oversight of the facility’s operations.
— KUNA
