US President announces project to build largest shipyard

Washington, Oct 6 (KUNA) -- U.S. President Donald Trump announced on Tuesday the launch of a project to build the largest shipyard in the United States since World War II, located in Maryland, with a total value of $6.6 billion. The announcement came during a speech delivered by Trump to senior U.S. military leaders in Maryland, a state bordering the nation’s capital. He stated that the project is funded through an investment by Anduril Industries, a military technology company, alongside a $2.9 billion contribution from the U.S. Navy.

President Trump said the project “represents a fundamental transformation of America and its defense industrial base. In the recent past, we were building up to four ships a day, whereas in recent years it has taken an average of seven to 15 years.” He added that “as clear proof of our commitment to ensuring the long-term success of the shipyard, American taxpayers will receive a 40 percent stake in the new facility.” (End) R.S.R./R.J.